South Korea's oyster exports to China nearly tripled year-on-year in the first 10 months
Market & Price Trends
Published Nov 21, 2023
Chinese consumers are seeking alternative sources of seafood due to Japan's contaminated wastewater dumping and South Korea's attempt to capture a larger share of the fish export market. South Korean water product companies aim to satisfy the market gap in China left by Japan's absence, as China is their largest export market. Consequently, more South Korean oysters are available in China, and Korean oyster processors are focusing on developing new, high-value-added products specifically for the Chinese market.
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Chinese consumers are looking for new sources of seafood after Japan began dumping contaminated sewage into the sea and South Korea is looking to capture a larger share of its main fish export market. South Korea sees Japan's dumping of contaminated wastewater as an opportunity, and many South Korean water product companies are hoping to increase exports to China to fill the market gap left by Japan, an industry insider told the Global Times. China is the largest export market for South Korean fish products. According to CMG, South Korea's fishery product exports to China reached $900 million in 2022, equivalent to South Korea's total exports to the United States and Japan. More South Korean oysters have appeared on the market this year, making it much easier for consumers to buy them, a Beijing aquatic products seller surnamed Liang told the Global Times on Monday. Korean oyster processors are making efforts to enter the Chinese market by increasing the competitiveness of their ...