The price of large-sized abalone is predicted to surge before Chuseok holiday in South Korea

Published 2022년 7월 25일

Tridge summary

The article highlights a significant decrease in large-sized abalone shipments in the first half of this year, attributed to poor growth due to a poor harvest of seaweed, a crucial food source. As a result, prices in production areas are projected to rise ahead of Chuseok. The Korea Maritime and Fisheries Development Institute reported a 2.3% decrease in total abalone shipments from January to June compared to the same period last year. The price increase is more pronounced for large-sized abalone (30-35%) than small-sized abalone (10%). The institute anticipates a persistence of lower shipments in the second half of the year due to ongoing poor growth. Additionally, the easing of the COVID-19 crisis has led to an increase in export demand, particularly to Japan and Vietnam.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It was found that shipments of large-sized abalone significantly decreased until the first half of this year. Due to this influence, it is predicted that the price of large-sized abalone production areas will surge before Chuseok (September 10). According to the Fisheries Observation Center of the Korea Maritime and Fisheries Development Institute, abalone shipments from January to June this year were 15,555 tons, 2.3% (10,808 tons) less than the same period last year. This is because shipments of large-sized abalones declined sharply due to poor growth due to poor harvest of seaweed, a food source for abalone at the end of last year. By size, the cumulative shipments until June of 8 or less and 9-11 large animals were 113 tons and 779 tons, respectively, down 80.9% and 53.4% compared to the same period last year. On the other hand, shipments of 16 to 20 and 21 or more small size were 17.1% and 31.1% higher than last year. As a result, the price of large-sized abalone production ...
Source: Fisheco

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