Octopus Prices Surge, Surpassing Tuna as Global Demand Soars

Oct 30, 2024 | News On Japan

OSAKA - The popular Osaka street food takoyaki, often enjoyed as a budget-friendly delicacy, might soon become a luxury out of reach.

At the Takoyaki Museum, a well-known destination featuring some of Osaka's most famous takoyaki shops, both Japanese locals and foreign tourists alike can be seen savoring the dish.

A family visiting from Belgium was trying the cheese fondue-flavored takoyaki, a creative twist on the traditional recipe.

Tourists from abroad shared their thoughts: "It’s delicious. We wanted our children to experience Japanese food, so we chose takoyaki. It's their first time in Japan," one parent said. "Very good! It’s nothing like what we tried before – so tender and tasty," another visitor commented, fully enjoying their experience.

However, as inbound tourism surges, the price of octopus, the key ingredient in takoyaki, has spiked dramatically.

Statistics from the Ministry of Internal Affairs show that retail prices for octopus in the Tokyo metropolitan area have reached 507 yen per 100 grams, surpassing tuna's 499 yen for the first time.

At a long-established takoyaki shop in Tokyo called "Takoyaki Nagao," which has been in business for 15 years, the freezer was stocked with freshly purchased octopus – around 100 kilograms in total. The cost of this purchase was approximately 200,000 yen, a more than twofold increase from ten years ago.

Nagao Seiji, the manager of Takoyaki Nagao, remarked: "It used to cost less than 100,000 yen, including shipping. Now, I have to handle the shipping myself, and it comes to around 200,000 yen."

He also mentioned, "The air conditioning is currently broken. I haven't called for repairs because I’m afraid of how much it will cost. If they say 'it'll be 200,000 yen,' it would be a big blow. I’ll wait until spring when it gets warmer to fix it."

Why, then, has the price of octopus risen so steeply?

Masakazu Watanabe, the manager of Marukawa Fishery, a fresh fish store in Tokyo, explained, "It seems there is high demand overseas, which is driving down supply. Quite a lot is being exported to the United States."

As we approach the New Year, a period when demand for octopus typically peaks, the price hike could pose challenges.

Watanabe noted, "For New Year’s celebrations, octopus is an essential item as a symbol of good fortune. Rising prices make things harder for our customers."

Once a food beloved for its accessibility, octopus might one day become a high-priced delicacy – a possibility many hope won’t come to pass.

Source: FNN

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