{"id":10871,"date":"2017-09-20T11:29:31","date_gmt":"2017-09-20T11:29:31","guid":{"rendered":"https:\/\/brasmar.com\/?p=10871"},"modified":"2022-02-03T13:03:19","modified_gmt":"2022-02-03T13:03:19","slug":"pe-backed-portuguese-frozen-processor-diversify-octopus-suppliers-as-moroccan-prices-rise","status":"publish","type":"post","link":"https:\/\/brasmar.com\/en\/pe-backed-portuguese-frozen-processor-diversify-octopus-suppliers-as-moroccan-prices-rise","title":{"rendered":"PE-backed Portuguese frozen processor diversify octopus suppliers as Moroccan prices rise"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<h1>PE-backed Portuguese frozen processor diversify octopus suppliers as Moroccan prices rise<\/h1>\n<p>[\/vc_column_text][vc_column_text]<strong>Portuguese frozen seafood processor Grupo Brasmar has diversified its suppliers this year, as prices rose on lower catches and rising global consumption, while the Moroccan octopus season is about to end.<\/strong><\/p>\n<p>Meanwhile, T1 octopus prices in Morocco reached \u20ac15-16 per kilogram, up from earlier this year, while T2 prices rose to \u20ac14-15\/kg. \u201cWe now have octopus suppliers in Morocco, Senegal, Mauritania and Portugal,\u201d the firm\u2019s CEO, Sergio Silva told Undercurrent News.<\/p>\n<h2>Brasmar investment<\/h2>\n<p>Brasmar, which took investment from Spanish private equity GED Capital Development last year, is still on track to reach a revenue of \u20ac170 million in 2017. The firm is targeting particularly the retail channel to increase sales, according to Silva. \u201cOur sales are growing mainly in Europe, one of our mainly markets. The fact that we keep the biggest part of our production here promotes the increasing,\u201d Silva said.<\/p>\n<p>However, high octopus prices have squeezed processors\u2019 margins. Silva pointed out that because of increasing demand from the US, octopus prices were expected to remain relatively high. \u201cOctopus is becoming more popular in some markets like United States. The consumption will continue to grow, so the pressure on high prices will probably remain,\u201d he said.<\/p>\n<p>Meanwhile, the Moroccan octopus season will end on Sept. 14, earlier than expected, sources said. \u201cPrices [of Moroccan octopus] are really expensive,\u201d one Moroccan octopus supplier said.<\/p>\n<p>Silva pointed out that higher competition has impacted margins on cod\u2019s sales. \u201cThe margins are very low on this segment,\u201d Silva said. \u201cWe buy cod in Norway and Iceland. We try to create with our supplies long term relationships,\u201d he said.<\/p>\n<p>Silva pointed out that the firm was not planning mergers and acquisitions at the moment.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Portuguese frozen seafood processor Grupo Brasmar has diversified its suppliers this year. Source: Undercurrent news.<\/p>\n","protected":false},"author":1,"featured_media":10897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"0","_seopress_titles_title":"","_seopress_titles_desc":"Portuguese frozen seafood processor Grupo Brasmar has diversified its suppliers this year. Source: Undercurrent news.","_seopress_robots_index":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[211,230],"tags":[],"class_list":["post-10871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-company"],"_links":{"self":[{"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/posts\/10871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/comments?post=10871"}],"version-history":[{"count":4,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/posts\/10871\/revisions"}],"predecessor-version":[{"id":10953,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/posts\/10871\/revisions\/10953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/media\/10897"}],"wp:attachment":[{"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/media?parent=10871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/categories?post=10871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brasmar.com\/en\/wp-json\/wp\/v2\/tags?post=10871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}