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Korean octopus imports continue to rise

SOUTH KOREA
Thursday, August 11, 2022, 07:00 (GMT + 9)

Frozen Octopus Imports/Amount Increase

By July 2022, 724,699 tons of seafood were imported, of which 1,497 tons, or 0.21%, were imported for frozen octopus.

In 2021, the previous year, 1,019 tons were imported, accounting for 0.17% of 583,312 tons.

Import volume of frozen octopus in July were 259 tons, up 156% from 101 tons in the previous year, and cumulative imports were 1,497 tons, a 47% increase from 1,019 tons in the same period of the previous year.

The average import volume for July from 2017 to 2022 was 264 tons, and the cumulative import volume up to July of the last six years was the highest at 2,754 tons in 2019, and the lowest at 1,019 tons in 2021.

The main exporters of frozen octopus are 12 countries, with 1,042 tons, and the 69.61% of the total imported, from Mauritania, 112 tons from the Philippines, 110 tons from Senegal and 84 tons from Indonesia. The highest price in kg was found in Philippines USD 6.88/Kg, Senegal USD 8.06/Kg, and South Africa USD 5.00/Kg, the lowest price.

Imports of frozen octopus in July were USD 1.94 million, up 73% from USD 1.12 million in the previous year, and the cumulative import amount was USD 14.72 million, up 74% from USD 8.45 million in the previous year.

The average import unit price in July was USD 7.51/kg, down 32.5% from USD 11.12/kg in the previous year.

Source : Union Forsea Corp.

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