South Korea and China depend on each other in exporting crabs. However, South Korea is arguably very dependent on China which takes over 79M USD export values. Although the price is more volatile in the Korean market, the price increase is still reasonable compared to China which rose by more than 80% in recent years, this led the country to sell crabs around 78.53 USD per KG in the market. The surge in prices at the beginning of the year forced China to reduce the amount of exports to its largest importer, South Korea. As prices skyrocketed, consumers in South Korea may think twice about buying crabs in bulk from China. In 2020, South Korea even increases its imports from other countries such as Pakistan and Myanmar.
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