South Korea targets Kenyan squid

Published 2024년 2월 5일

Tridge summary

South Korea's squid fishery has been severely impacted by climate change and human activity, with a 66% decrease in catches in 2023 compared to 2021. This has led to increased squid prices and reduced income for fishermen, forcing the country to import more squid and causing a 20% price increase for frozen squid in 2024. To mitigate this, the South Korean Ministry of Marine Affairs and Fisheries has negotiated with Kenya to start fishing for squid off its eastern coast, marking South Korea's first fishing venture in East Africa, with an estimated annual catch of 30-40 thousand tons.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the South Korean press, climate change and human activity in recent years have greatly affected the squid fishery in the country's waters. Thus, in the Ulzhin district, located on the shores of the Sea of Japan, catches in 2023 alone decreased by 66% compared to 2021. In general, enterprises of the republic over the 11 months of last year produced only about 60 thousand tons of this mollusk, although ten more years ago, in 2013, 250 thousand tons were developed. Such a decrease in indicators, on the one hand, pushes squid prices up in the domestic market, and on the other, negatively affects the income of squid fishermen, reports a Fishnews correspondent. Every year, South Korea is forced to import more than 500 billion won (about $377 million) worth of squid. As a result, frozen squid, which has always been considered one of the most affordable seafood for ordinary Koreans, at the beginning of 2024 increased in price by 20% compared to last year. The price of chilled ...
Source: Fishretail

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