South Korea: 2020 Seafood Export Assessment and 2021 Outlook

Published 2021년 10월 1일

Tridge summary

The article provides an overview of the fisheries industry and its market dynamics, focusing on changes in demand, competition, and production in various seafood products such as laver, tuna, crab, oysters, cod, abalone, fish cakes, flounder, clams, and tooth meat. It discusses the impact of COVID-19 on seafood exports, including the rise in demand for healthy food and the challenges in logistics and quarantine. It also highlights the growth in demand from emerging markets like Vietnam and Russia, the increase in production in China and Japan, and the instability in squid production and tooth meat exports due to factors like disease and import policies. Additionally, it mentions the decline in crab meat demand due to the pandemic and the recovery trends in flounder prices. The article relies on the Korea Maritime and Fisheries Development Institute for its data.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Beware of changes in the demand for fishery products and quarantine systems in each country Competition between Korea, China and Japan expected to intensify as Chinese and Japanese laver production increases Tuna exports to Japan unlikely to recover due to Japan-EU FTA Vietnam’s consumer demand for high-quality seafood rises, but exports are stabilizing Kim - Demand from Emerging Countries Expected to Continue to Grow Although uncertainty about COVID-19 is expected to continue this year as well, seaweed exports are expected to increase centering on seasoned laver. First, as seaweed is recognized as a healthy food, the global demand is increasing. In the past, it was consumed mainly in Korea, China, and Japan, but it has spread to Southeast Asian countries such as Thailand and Vietnam, and has recently spread to Western countries such as the United States and the European Union (EU), establishing itself as a global mainstream food. However, it is also necessary to pay close ...

Source: Fisheco