Red light on eel supply and demand in South Korea

Published 2022년 2월 14일

Tridge summary

The article highlights a anticipated decrease in eel production and increase in local prices for the year 2022, following a decline in eel harvesting from the Far East since the previous year. Despite a 92% increase in eel stock from the same period last year, the Fisheries Observation Center of the Korea Maritime and Fisheries Development Institute predicts a rough supply of Far East eels in 2022. The number of eels caught in 2022 is at a record low, and the number of breeding eels is higher than normal, but the supply of Far East eels is expected to decrease, potentially leading to supply-demand imbalances and a rise in local prices. The researcher suggests establishing a collection and stocking management system to stabilize supply and demand, and improving fishing gear.

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Original content

Since last year, eel harvesting from the Far East has been sluggish, and it is predicted that this year's eel production will decrease and local prices will rise. According to the Fisheries Observation Center of the Korea Maritime and Fisheries Development Institute (KMI), the stocked amount of eels from 2022 was 355 kg until December of last year, 92% higher than the same period last year, but only other varieties, which were all substitutes, were stocked. The Fisheries Observation Center predicted that the supply of eels from the Far East in 2022 will not be smooth due to the continued sluggish harvesting of eels from the Far East in 2022 following those produced in 2021. In fact, the number of eels caught in 2022 by country (as of January 7) is 2100-2200kg, the lowest recorded in history. Baek Eun-young, a research fellow at KMI, said, “As of December, the number of breeding quantities is higher than normal, but if stocks of eels from the Far East in 2022 continue to decline ...

Source: Fisheco