Frozen baby octopus all the rage in South Korea! Imports up 15%

South Korea's imports of frozen baby octopus reached 1,904 tonnes in May 2024, up 13 per cent year-on-year, indicating strong market demand, according to the latest data from Union Forsea Corp. Cumulative total imports this year have exceeded 10,629 tonnes, up 15% year-on-year.

Vietnam, the largest supplier of octopus, accounted for 78 per cent of total imports, followed by Thailand, Indonesia and China. In terms of unit import price, Thailand's small octopus topped the list at US$7.19/kg, followed by Vietnam, while China was the low-cost choice at US$4.64/kg.

Imports in May reached US$11.92 million and total imports for the first half of the year reached US$67.12 million, up 8% and 12% respectively year-on-year.

This import growth was mainly attributed to the improvement in product quality and price competitiveness, while consumer demand for frozen baby octopus continued to grow. To ensure stable market supply, importers are working on supply chain optimisation and quality control.

Industry experts pointed out the need for continuous monitoring of the frozen baby octopus market, strengthening quality management and supply chain innovation to meet the growing domestic market demand.