Russian Seafood Imports from Morocco Plummet, Octopus Demand Surges

Russian imports of Moroccan octopus recorded a notable increase in the first half of 2024, reaching 170 tons, or $2.8 million (about 29.4 million dirhams), Russian media report, citing data from the European Union’s Fisheries and Aquaculture Market Monitoring Service (EUMOFA). This increase is explained by the strong demand for Moroccan octopus, which represents 11% of total Russian imports of Moroccan fish and seafood and whose value exceeds 43% of the total value of Russian imports.

As for imports of Moroccan oysters, they remained stable during this period, reaching 40 tons for a value of $0.5 million, the same sources reveal, justifying the drop in Russian imports of Moroccan fish by the drastic drop in imports of surface fish, which represented 98% in volume and 86% in value of imports during the same period last year.

The same sources note a decrease in imports of aquatic resources from Morocco, a trend that is explained in particular by the drop in the production of canned fish in Morocco, which is due to the devaluation of the ruble, the lack of manpower, as well as the difficulties related to the transport of raw materials and processed products and their marketing.

Meanwhile, fish prices have risen sharply in Morocco, particularly that of sardines, called the "poor man’s fish", which has reached more than 25 dirhams per kilogram. While the price of a crate of sardines reached 400 dirhams in Safi, it rose to 500 dirhams in Essaouira. This exaggerated price increase has aroused the anger of Moroccans in general and those with low incomes in particular. For some professionals in the sector, this price surge is due to the drop in production caused by the climatic variations observed along the coast between Casablanca and Agadir.