South Korea: Red light on the supply and demand of fishery products from Russia

The red light has turned on for the supply and demand of Russian seafood. Due to the Russian invasion of Ukraine, it is unclear whether pollock and squid fishing will be available in Russian waters this year. Concerns about the Russian invasion of Ukraine are becoming a reality, as domestic prices rise as it becomes difficult to secure supplies, and Russian seafood is being treated with great respect in the sales market. The Russian waters, which was concluded through an agreement between countries, were scheduled to receive a license to enter the Russian waters from mid-May, but there is little hope. As the war continues, it will be difficult to supply not only pollack and squid, but also snow crab and king crab imported from Russia. All snow crabs imported into Korea in 2021 were from Russia. Of the imported seafood, 89% of cod and 63% of pollock were imported from Russia. If imports from Russian waters are canceled this year, it is expected that the supply and demand of pollock ...