First-sales prices of cuttlefish in Europe have ranged from around EUR 2 (USD 2.34) to more than EUR 10 (USD 11.71) per kg over the past three years, depending on the market that these cephalopods are being sold in. The highest prices are historically achieved in Italy and Portugal, but growing consumer demand for the product in the EU’s northern member states and a recent contraction of supply are also affecting the trade.
Cuttlefish prices tend to be at their highest levels in the summer months – typically from June to August, when most of the spawning occurs. Catches are lower in this period, which contributes to price increases. However, there have been strong price surges ahead of these traditional peaks, finds the latest sales figures from the European Commission’s European Market Observatory for Fisheries and Aquaculture Products (EUMOFA).
Average first-sales prices in France for the first four months of this year increased 37 percent year-on-year to EUR 4.55 (USD 5.33) per kg. Compared to the same period of 2015, these latest prices were up 72 percent. The highest price seen for cuttlefish in France in the last year was EUR 5.79 (USD 6.78), achieved in July 2016.
In Italy, for the same four-month period of this year, the average price of cuttlefish at EUR 7.77 (USD 9.10) per kg represented an increase of 5 percent over January through April 2016 and was 24 percent more than January through April 2015. Italian prices peaked at EUR 10.43 (USD 12.21) per kg in August 2016.
Portugal followed suit with its average price for January through April 2017 of EUR 5.14 (USD 6.02) per kg representing an increase of 24 percent over the same period of 2016 and 29 percent more than in 2015. Its cuttlefish prices reached a high of EUR 10.44 (USD 12.22) per kg in August 2016.
The most growth, though, was seen in U.K. prices, which this year reached a level of EUR 4.16 (USD 4.87) per kg, up 46 percent compared to the same period of last year and 87 percent more than in January through April 2015. The highest first-sales price achieved by cuttlefish in this market over the past year was EUR 4.50 (USD 5.27) per kg in March 2017.
A reduced supply of cuttlefish has contributed to the higher prices seen in these markets this year.
France saw the volume of its cuttlefish first-sales for January through April 2017 fall 26 percent year-on-year to 1,779 metric tons (MT), achieving a value of EUR 8.1 million (USD 9.5 million), which was 2 percent higher than the corresponding period of 2016.
The same trend was seen in Portugal and the United Kingdom with volumes of 520 MT (down 13 percent) and 1,639 MT (down 15 percent) respectively. The values of these sales amounted to EUR 2.7 million (USD 3.2 million) for Portugal and EUR 6.8 million (USD 8 million) for the U.K. market, representing increases of 8 percent and 24 percent respectively.
In Italy, first-sales of cuttlefish decreased in both volume (down 9 percent) and value (down 5 percent) to 666 MT and EUR 5.2 million (USD 6.1 million).
Living on sandy or muddy bottoms from shallow waters to depths of 200 meters, Europe’s cuttlefish are commercially targeted from the North Sea, around the British Isles, to the coast of North and West Africa. They are also found in the Mediterranean Sea. English Channel waters are particularly rich in cuttlefish; however, the geographical distribution varies from year to year.
Cuttlefish are mainly caught in trawls as a target species, and as a bycatch in demersal fisheries. Artisanal fisheries utilize a wider variety of selective gear types, such as pots and traps, often combined with the use of light.
Several species of cuttlefish are fished, but the one most frequently landed in Europe is the common cuttlefish (Sepia officinalis).
