Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Spain (Vigo/Huelva)Headline | physical_fob | — | USD/MT | 4200–5800 | Dec 2024 | — |
| Morocco (Agadir/Casablanca) | physical_fob | — | USD/MT | 3800–5200 | Dec 2024 | — |
| Japan (Tokyo/Nagasaki) | physical_fob | — | USD/MT | 5500–7200 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical octopus trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Spain (Vigo/Huelva) | — | |
| Morocco (Agadir/Casablanca) | — | |
| Japan (Tokyo/Nagasaki) | — |
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