Tridge summary
Korea has seen a significant 63% increase in its domestic mackerel exports, particularly to Africa, amounting to about $106.66 million. The surge in exports, primarily to Ghana, Nigeria, and Côte d'Ivoire, is attributed to trade sanctions on Russia and a reduction in fishing by Japan following the Fukushima incident. The cost-effective Korean hammerhead mackerel has become increasingly popular in these African countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
It turns out that our domestic mackerel is enjoying great popularity in Africa. According to the Korea Maritime and Fisheries Development Institute's Overseas Market Analysis Center, frozen mackerel exports last year amounted to about $106.66 million (about 142.5 billion won), a 63% increase from the previous year (about $65.47 million). The most popular destination for domestically exported mackerel was Africa. According to frozen mackerel exports in the fourth quarter of last year, three African countries: Ghana ($11.05 million), Nigeria ($10.81 million), and Côte d'Ivoire ($8.86 million) accounted for 70.5% of the total export amount. The reason Africa prefers domestically produced mackerel is because of problems with existing importing countries. Originally, Africa imported a lot of marine products from Russia and Japan, but the Russia-Ukraine war intensified Western trade sanctions, and Japan also reduced the number of fishing boats departing after it began ...
Source: Susantimes
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.