South Korea: Concerns over the supply and demand for pelagic pollock, crab, and cod in Russia

Published 2022년 3월 7일

Tridge summary

The article highlights the concerns within the pelagic industry regarding Russia's invasion of Ukraine and its potential impact on the supply and demand of Russian aquatic products like pollack, cod, and snow crab. South Korea's Ministry of Oceans and Fisheries is taking proactive steps to mitigate the effects of sanctions against Russia, with a stockpile of about 100,000 tons of pollock to ensure no disruption in the supply and demand of seafood. However, the situation remains uncertain, and there are concerns about the potential for supply-demand anxiety, price fluctuations, and possible inability to enter fishery fees if sanctions are prolonged. Additionally, there is growing demand for these products in China and Europe.

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

Original content

Russia's invasion of Ukraine is deepening the concerns of the pelagic industry, which is preparing to enter Russian waters. In addition, supply and demand disruptions are expected for Russian aquatic products such as pollack, cod, and snow crab. At a press conference on the 2nd, Minister of Oceans and Fisheries Moon Seong-hyeok announced that he would take a preemptive action to minimize the damage caused by sanctions against Russia so that there would be no disruption to the supply and demand of seafood due to the Ukraine war. Regarding the fishery trade, Minister Moon said that there will be no problems until October, as he has a stock of about 100,000 tons of pollock. Although the government-level sanctions against Russia are in progress, the position of the Ministry of Oceans and Fisheries is that there is no problem in the supply and demand of aquatic products. However, it is unknown how the situation will develop, and the supply-demand anxiety is increasing. In particular, ...

Source: Fisheco