News

Norwegian salmon prices soar in South Korea

Salmon
Norway
South Africa
Published Mar 8, 2022

Tridge summary

The price of raw Norwegian salmon is showing signs of soaring. This is because air transport to Korea is being disrupted as Russia closes its airspace for European countries amid Russia's continued invasion of Ukraine.

Original content

According to the seafood distribution industry on the 2nd, the current market price of raw salmon imported from Norway is between 16,000 and 18,000 won per kg, but the wholesale price of imported raw salmon from Norway to be delivered through customs clearance next week is up to 2 per kg. The price is expected to jump by about 10,000 won, with a forecast of 16,000 to 28,000 won. Norwegians account for 95% of imported salmon coming into Korea. Most of the air freight from Norway to Korea goes through Russia, and as airlines use detour routes and increase fuel costs, air fares have risen, and import prices are also skyrocketing. The European Union (EU) banned Russian airlines from entering EU airspace after Russia invaded Ukraine. Russia also closed its airspace to European countries. Concerns arise not only about the supply of raw Norwegian salmon, but ...
Source: Fisheco
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