South Korea: Discharge of 500 tons of pollock from the government stockpile for price stability

Published 2022년 5월 30일

Tridge summary

The Ministry of Oceans and Fisheries in South Korea is planning to release up to 500 tons of pollock from its government stockpile over nine days, starting May 26, to help stabilize rising seafood prices. This initiative is aimed at traditional markets and marts, where consumers can purchase the fish at up to a 30% discount. The release will primarily target medium-sized pollack, a common ingredient for dishes like dongtae soup. This measure comes as wholesale pollock prices have recently fallen due to the low season, but retail prices continue to rise due to large purchases made at higher prices in April. The ministry is also monitoring the situation closely and considering additional measures to stabilize the market.

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

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 ...

Source: Susantimes