Indonesian Giant Octopus Prices Fall In W40 Due to Sluggish Global Demand

The Indonesian giant octopus is experiencing difficult times due to a significant drop in global demand, especially from European countries, which has been at its lowest this year. Demand is weak due to the West African octopus season (Morocco, Mauritania) and the ongoing economic crisis in Europe, which left Indonesian suppliers with huge stock. Compared to its peak price of USD 6-7/kg in May-June 2022, the price of octopus raw materials in the east of Indonesia in W40 has decreased by almost half to USD 3–4/kg.