South Korea: Instability in supply and demand of seafood requires preparation by expanding supply chain

South Korea
Market & Price Trends
Published Apr 8, 2024

Tridge summary

The article addresses the critical challenges facing the global seafood supply chain, including the adverse effects of climate change, natural disasters, geopolitical tensions, and the COVID-19 pandemic. It underscores the decline in domestic seafood production, such as squid and snail, due to overfishing and climate change, leading to increased reliance on imports. The piece advocates for the development of a customized supply chain system, international cooperation to expand supply chains, and improved seafood storage to manage supply-demand volatility. Additionally, it calls for a robust international fishery product supply and demand monitoring system to tackle the inadequacies in tracking fishery products, emphasizing the need for better management to stabilize consumer prices, address the seafood crisis, and ensure a stable supply of fishery products through effective fisheries policy.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Recently, global food supply and demand issues have become a major concern for each country, and in addition to traditional factors such as climate change and natural disasters, geopolitical factors such as supply chain disruptions such as the COVID-19 pandemic, conflict between the United States and China, and wars between Russia and Ukraine have been added to create risk factors. There is a high possibility that it will be done. Anxiety is rising as supply and demand volatility increases in marine products, which are a source of protein. In production, catches of national fish such as squid and snail have decreased due to climate change and resource decline, and the quality and productivity of seaweed are also declining. The void left by the decline in domestic fishery product production is being filled with imported fishery products. According to the most recently published food supply and demand table, domestic production accounts for only 1.97 million tons (51.0%) of the ...
Source: Fisheco
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