Price Drop of Baby Octopus in Indonesia in October

The baby octopus (Octopus membranaceous) from Indonesia, is commonly exported to Taiwan and South Korea. Demands from these countries have been low in recent months, as buyers from Soth Korea have cut down their buying prices to adjust to the market situation. The catch of baby octopus is stable at 1K-2K kg daily in North Sumatra, however, the raw material price has been dropping to follow buyers' market price. In October 2022, the finished product price is USD 5.90 - 6.00/kg, compared to September 2022 with USD 6.50 - 6.70/kg CFR Asia ports. Considering the current rainy season in Indonesia, the baby octopus catch may fluctuate in the coming months due to the high intensity of rain which causes flooding till the end of the year 2022.