'At least there's Chinese octopus': Korean supply dries up as imports surge

"Twenty-six thousand! Twenty-six thousand! Twenty-six thousand! Twenty-five!"

Just before midnight on June 1, the auctioneer's calls rang out without pause at the octopus auction floor of the Seoul Agro-Fisheries & Food Corporation wholesale market in Songpa-gu, Seoul. A lot that opened at 26,000 won (about $17) was knocked down at 25,000 won.

But what drew more attention than the auctioneer's chant was the origin displayed on the electronic board. Domestically caught octopus was rarely to be seen. The word that kept appearing on the board was "China."

A wholesale trader with 35 years of experience at the market said Korean octopus was both scarce and expensive. "Auction prices have risen about 20 percent compared to last year," he said.

Chinese octopus is filling the void left by the domestic shortage, the result of falling catches driven by shifting water temperatures, bait supply problems and reduced fishing activity amid high fuel costs. Korea Customs Service trade statistics show octopus imports in April totaled $22.14 million (34.1 billion won), up 30.3 percent from $16.99 million in the same month last year. China accounted for $18.83 million, or 85 percent of the total.

Domestic catches, meanwhile, have plunged. The Korean Statistical Information Service reports octopus landings from January through April totaled 1,448 tons, down 29.6 percent from the same period last year. January catches plunged 56.2 percent year-on-year.

Rising water temperatures are widely cited as the main cause. Octopus live only one to 1.5 years and are highly sensitive to changes in the marine environment. The National Institute of Fisheries Science found that coastal water temperatures in the Yellow Sea and South Sea from May 31 through June 6 were 1.2 degrees Celsius and 1.7 degrees Celsius higher, respectively, than a year earlier.

Bait supply has also become a problem. The price of the fiddler crab — the primary bait used in octopus fishing — has risen, adding to fishermen's costs. The price of tax-exempt fuel for fishing vessels jumped 57 percent in a single month, from 175,940 won per 200 liters in March to 276,180 won in April.

"Octopus is a species highly susceptible to changes in the marine environment, including water temperature and salinity," an official at the South Sea Fisheries Research Institute said. "We believe the recent decline in catches stems from a combination of factors — weather conditions, fishing activity and bait availability — all working together."