South Korea: Strong trout production area price due to reduced supply

Published 2022년 12월 19일

Tridge summary

The article highlights a significant increase in the price of trout in South Korea, with a 50% surge in November compared to the previous year, reaching 14,443 won per kg. This increase is attributed to a decrease in supply, with trout shipments dropping by 13.9% compared to last year. The high prices are expected to persist into December due to increased demand for trout during winter festivals and year-end gatherings. In contrast, salmon imports in November increased by 16.7% from the previous month, largely due to an increase in imported frozen salmon. However, the quantity of fresh refrigerated salmon imports decreased by 30.4% and 10.1% compared to the same period last year, respectively.

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Original content

Trout production area prices continue to skyrocket. It seems that the supply decreased as fishermen focused on raising meat ahead of the winter festival while there was not much production. According to the Fisheries Observation Center of the Korea Maritime Institute (KMI), the price of trout in November was 14,443 won per kg, which is more than 50% higher than last year and the same month in normal years. On the other hand, trout shipments were 235 tons, down 13.9% and 12.2%, respectively, compared to last year and the same month of an average year. The Fisheries Observation Center said, “In October, shipments in preparation for demand for the autumn holiday season increased significantly, and the price of trout production area was formed at an average of 14,000 won per kg. The decrease in price has turned to a strong uptrend,” he said. By region, the price of production sites in all regions rose slightly from the previous month, with an average of 30 to 80 won per kg in Gangwon ...

Source: Fisheco