South Korea: The situation is concerned about a further decline in the price of eel production

Published 2022년 10월 11일

Tridge summary

The article highlights the significant increase in the stocking of eels from the Far East in 2022, reaching a 9.2% higher volume compared to the previous year, leading to a decrease in eel prices. The current price per kilogram is similar to last year but 11.2% lower than the normal year, with large-sized eels contributing to the price drop. The cumulative shipments until August were similar to the previous year but showed a difference in shipment sizes. The number of eels from the Far East as of August ended up being 10.0% less than the previous year but 4.9% more than the average. Additionally, the number of breeding animals for less than a year significantly increased, while the positive shipments for more than one year decreased due to an increase in large-size shipments but still remained higher than the average year.

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

Original content

As the stocking of eels from the Far East in 2022 is higher than the normal level, the price of eels that can be shipped from the production area is expected to fall further than the current level. According to data from the Korea Maritime and Fisheries Development Institute (KMI) Fisheries Observation Center, the stocked amount of eels from the Far East in 2022 was 8893 kg, which was 9.2% and 4.7% higher than the same period last year and normal year, respectively. The problem is that there is a large quantity of large-sized eels, so the price of production sites continues to decline. As of the end of August, the price of eels from the Far East was 27,100 won per kilogram (based on three animals), which was similar to the same month last year, but 11.2% lower than the same period in the normal year. Farm prices, which had been on a continuous decline since May, fell to last year's level in August, probably due to the increased willingness to ship fish, fearing a price drop, as ...

Source: Fisheco