South Korea: Ministry of Oceans and Fisheries quickly supplies pollack and squid from government reserves to stabilize prices

Up to 30% discount off consumer prices at traditional markets and marts until the 15th of next month. The Ministry of Oceans and Fisheries will release 3,000 tons of pollack and 500 tons of squid from the government stockpile from the 23rd to the 15th of next month to stabilize seafood prices. Pollack prices have been on the decline since early October due to smooth supply due to good local fishing in Russia, but prices are still higher than average, and squid prices are expected to rise due to sluggish production. This government stockpile will first be supplied to traditional markets and marts where consumers can purchase directly, and will be sold at a price up to 30% lower than the market consumer price. The remaining quantity will be supplied through wholesale markets or business-to-business (B2B) methods. The Ministry of Oceans and Fisheries plans to check whether items released to traditional markets and marts are being sold at appropriate ...