Price of Giant Octopus Down 32% MoM in Western Indonesia in W49 Due to Low Global Demand

Giant octopus (species: octopus cyanea) of Indonesian origin has been experiencing low global demand for months because of the negative global economic situation. Suppliers in Medan, North Sumatra have been looking for buyers aggressively and are now able to offer the product at a much lower price than previously. In W49, the price of fresh whole round giant octopus is USD 4.45/kg in whole-round fresh condition compared to the previous price in the western part of Indonesia of USD 6.5/kg in November 2022.