Indonesian Octopus Prices Hold Steady in W48 Amidst European Market Challenges

The price of octopus (species: octopus cyaneus) in Indonesia packed in a whole cleaned flower shape with 90% net weight and 10% glazed remains in the same range as the price in W47. Demands from the European Union (EU) market have been dramatically impacted by the ongoing octopus season and dropping prices in West Africa. In W48, Indonesian octopus flower shape prices are USD 5.2/0.5 to 1 kilogram (kg), USD 6.1/1 to 2kg, USD 7.75/2kg and up CFR EU seaports. However, the Indonesian octopus prices in W48 pose a challenge for EU markets, with buyers in the European Union seeking a reduction of USD 2/kg in prices. The demand for lower prices indicates a potential negotiation or pricing pressure in the market, as buyers aim to secure octopus at more favorable terms.