ANALYSIS: Spanish Octopus Market Strains Under Supply Pressure
Octopus, particularly product imported into the U.S. from Spain, remains a highly challenging category. Reduced catch levels have driven up replacement costs overseas, resulting in elevated and volatile pricing. Some market participants have opted to step back from the category altogether, while others are operating with extremely tight margins. At the same time, continued resistance to higher prices from end users has decreased demand in some instances and contributed to an unsettled market tone.
U.S. Census import data for the year-to-date period (January–April) shows that January was the...
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