South Korea: 3,500 tons of pollack and squid are released from the stockpile

The government will release up to 3,500 tons of fishery products from government reserves, including pollack and squid, by the 15th of next month to stabilize market prices. The Ministry of Oceans and Fisheries announced on the 22nd that it would release 3,000 tons of pollack and 500 tons of squid from government reserves to stabilize seafood prices. In the case of pollack, the price has been falling since early October due to smooth supply due to good local fishing in Russia, but the price is still higher than the average year. In the case of squid, prices are expected to rise due to sluggish production. This government stockpile will first be supplied to traditional markets and marts where consumers can purchase directly, and will be sold at a price up to 30% lower than the market consumer price. The remaining quantity will be supplied through wholesale markets or business-to-business (B2B) methods. The Ministry of Oceans and Fisheries plans to check whether items released to ...