Mullet flutter in place of halibut and flounder that have risen in price in South Korea

Published 2021년 12월 27일

Tridge summary

The demand for mullet fish in Korea has surged, making it a popular alternative to sashimi such as halibut and flounder, resulting in a significant increase in its production cost. Traditionally shipped intensively in winter and less so in summer, mullet's shipping patterns have shifted, with more summer shipments due to regional differentiation. This change is attributed to the rise in prices of halibut and eel, with mullet now being the more affordable option. Consequently, mullet prices have seen a dramatic increase, peaking at 12,000 won per kg in October, a 61% increase from the previous year and 78% higher than the normal price. While it is anticipated that mullet production prices may stabilize slightly in the short term, they are expected to remain slightly above normal prices.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The demand for mullet is rapidly increasing as mullet is emerging as a major substitute for sashimi such as halibut and flounder. Due to this influence, the price of mullet production is also on the rise. According to data from the Fisheries Observation Center of the Korea Maritime and Fisheries Development Institute, mullet is a typical seasonal fish species that is shipped intensively in winter and decreases in summer for a long time. However, from 2020, winter shipments have decreased by more than 50% compared to before, and a pattern has begun to appear in which summer shipments increase. This is because Hadong, Gyeongnam, the main producer of mullet, started to increase shipments in summer to differentiate it from other regions. This year, this phenomenon has worsened, and shipments in May and July were higher than in winter. In other words, shipments that were concentrated in winter have shifted to year-round shipments. The center analyzed that the change in mullet shipment ...
Source: Fisheco

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