Temporary Recovery Due to Rest Periods in 2018
In 2018, the Korean mackerel industry enjoyed a recovery due to a longer rest period for fish populations. Large fisheries, which account for more than 90% of the Korean mackerel fisheries, have extended their company-initiated rest periods from one month in 2017 (March 14 to April 14) to two months in 2018 (April 29 to June 27). This, combined with ideal water temperatures in Korea’s main fishing ground, Jeju Island, led to an increased mackerel catch. The total catch, which was only 11.3K tons in 2017, increased by 87% to 21.6K tons in 2018.
Sharp Decline of Total Catch
However, mackerel production drastically declined again this year. The Korean Ministry of Maritime Affairs and Fisheries set a mandatory one-month rest period this year, from April 19 to May 19. The large fisheries extended this period two more months until July 20. The industry decided on a longer rest period to protect fish stocks, as many small-sized mackerels were caught early in the year. Despite this longer rest period, there was no recovery effect and the annual catch fell by 82%
In August 2019, mackerel catches amounted to only 7.4K tons, down 56% from the 17K tons in the same period in 2018. Also in September, the output of offshore fishing was 7.7K tons, down 43.5% from 13.6K tons in the same period last year. This was mainly due to the fact that the number of working days had decreased drastically, due to bad weather conditions caused by typhoons. Also, the water temperature around Jeju Island decreased by 1~2 °C.
A Sector Caught in the Net of Korean-Japan Trade Dispute
In addition, Korea's mackerel fishing boats are facing a crisis after fishing operations in Japan’s Exclusive Economic Zone (EEZ) were blocked. South Korea sourced a lot of its mackerels from Japan’s EEZ, but due to stalled trade negotiations between Korea and Japan, Korea is no longer allowed to fish in this area.
High Increase in Mackerel Price
According to Korea Agro-Fisheries & Food Trade Corporation (AT), the average price of a box of medium-sized frozen mackerel (10 kg) in domestic wholesale market (Garak market) on September 26th was 34,800 KRW (30.10 USD), 11.2% higher than the average price of 31,283 KRW (26.90 USD). The average retail price of mackerel fish was 3,497 KRW (3.00 USD) per fish, 14.7% higher than last year, and 8.6% higher than the average price of 3,220 KRW (2.70 USD). The price will stay high this year due to market shortages.
References
- Donga Ilbo. Translated from Korean, "Offshore fishery production decreased 19.8%."
- Kyung Hyang. Translated from Korean, "Typhoon impacts drastical reduction of mackerel, cutfish and anchovy catch"
