South Korea to significantly increase frozen pollock imports from Russia in October 2024

Published Nov 14, 2024

Tridge summary

In October, South Korea experienced a significant increase in imported pollock, with 99% of the volume coming from Russia and the rest from the US and China. Despite the increased volume, the total import value for 2024 decreased by 2% from the previous year, leading to an 8% decrease in the average price of imported pollock to $0.97 per kg. The rise in import volumes and fall in unit prices are anticipated to have an impact on the domestic market, potentially bringing price stability for consumers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The imported pollock mainly came from Russia, which accounted for 99% of the total volume, amounting to 120,161 tons. The remaining 1,337 tons were imported from the United States, and 127 tons were imported from China. However, China showed the highest unit price of $1.61 per kg, while the United States and Russia offered $1.27 and $0.97 per kg, respectively. The total value of frozen pollock imports in October was $17.13 million, an increase of 104% compared to October last year. However, despite the increase in import volume, the total import value for 2024 decreased by 2%, amounting to $118.23 million. The average price of imported pollock decreased to $0.97 per kg, which is 8% lower than last year. The increase in import volumes is ...

Source: Fishretail