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Anchovy fishing has started in South Korea, but reality is dark

멸치 조업 시작됐지만… 현실은 ‘암울’
This news article has been translated to English.
Frozen Anchovy
South Korea
Price Trend
Supply Yield / Stock Quantity
Jul 11, 2022
From Fisheco
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The anchovy fishing industry in Namhae, Gyeongsangnam-do, which ended a three-month lock-in period from April 1 to June 30, started operations on July 1, but faced a grim reality due to low catches and high oil prices.
The fishermen had higher expectations for this year's fishing as they suffered from a sharp decline in the catch of anchovy last year. “The situation is serious,” said an official from the Anchovy District Hyeonang Fisheries Cooperative Association in a phone call with this paper on the 7th. The official said, "There is a reason why anchovy fishing grounds have not been established yet, but most of the fishing boats have given up on the operation because the price of duty-free oil is too high." The supply price of duty-free oil for fishing in July was 294,210 won per drum (200L), more than double that of this time last year (116,790 won). Considering the reality that one gwonhyeonmang fleet consisting of 5 ships uses 500 drums on average per month, an additional cost of more than 100 million won per month is incurred for fuel alone. Although the Ministry of Oceans and Fisheries is subsidizing up to 112.5 won per liter through oil price interlocking subsidies, the price of ...
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