Matilde Mereghetti
The Moroccan octopus fishing season is about to end across the country, with record high prices, industry sources told Undercurrent News.
An increase of global demand, in combination with stagnating catches in some of the most important fishing hubs for the species, have caused prices to progressively increase in recent years.
High prices have scared away several buyers, but prices haven’t fallen yet.
The quota in Dhakla, Morocco’s largest fishing area, has been fully caught earlier this week, while extraction activity in other areas should be closed by the end of the month, according to a source in Morocco.
Meanwhile, Mexican octopus fishing season continues, but prices from that origin have also risen (see prices provided by one industry source below), according to sources.
Record high octopus prices are driving a consolidation process among Spanish players, with private equity firm Portobello Capital’s acquisition of processor Viveros Merimar earlier this year.
“A concentration process is ongoing in the market. Portobello is very active in the sector buying [firms] and at the same time wanting to sell Angulas Aguinaga and Iberconsa [Grupo Iberica de Congelados],” one source familiar with the deal told Undercurrent.
Meanwhile, other M&As of octopus players could take place soon, according to informed sources.
Contact the author matilde.mereghetti@undercurrentnews.com
