South Korea: Discharge of 500 tons of pollock from the government stockpile for price stability
Coalfish
South Korea
Published May 31, 2022
Tridge summary
The Ministry of Oceans and Fisheries will release up to 500 tons of pollock from the government stockpile for 9 days from the 26th of this month to the 3rd of next month to stabilize the price of seafood. The release of pollack stockpiled by the government is targeted at traditional markets and marts where the general public can directly purchase pollack. Consumers can purchase at a discount of up to 30% from the market price. In particular, considering the market demand, we plan to supply mainly medium-sized pollack (about 500 to 600 g per li) used as an ingredient such as dongtae soup. During the release period, we plan to adjust the amount of emitted pollock in consideration of field demand and price fluctuations. Meanwhile, the wholesale price of pollock, which has been continuously rising since the crisis in Russia and Ukraine, turned downward in line with the low season that started this month. However, consumer prices at retail outlets where consumers purchase directly, such as traditional markets and large marts, are still on the rise. This seems to be because the quantity secured at high prices in April, when it peaked, is now being released.
Original content
The Ministry of Oceans and Fisheries will release up to 500 tons of pollock from the government stockpile for 9 days from the 26th of this month to the 3rd of next month to stabilize the price of seafood. The release of pollack stockpiled by the government is targeted at traditional markets and marts where the general public can directly purchase pollack. Consumers can purchase at a discount of up to 30% from the market price. In particular, considering the market demand, we plan to supply mainly medium-sized pollack (about 500 to 600 g per li) used as an ingredient such as dongtae soup. During the release period, we plan to adjust the amount of emitted pollock in consideration of field demand and price fluctuations. Meanwhile, the wholesale price of pollock, which has been continuously rising since the crisis in Russia and Ukraine, turned downward in line with the low season that started this month. However, consumer prices at retail outlets where consumers purchase ...
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