According to the Ministry of Oceans and Fisheries on May 19, the entry into the fishing season in May is likely to increase price volatility for seafood. To stabilize prices, the ministry plans to release up to 8,000 tons of stocked seafood into the market from May 20 to July 15.
Typically, seafood production decreases during the fishing season. The National Fisheries Research Institute reported that in May of last year, production of mackerel, horse mackerel, squid, anchovy, hairtail, and croaker all fell below average levels.
The government’s stocked seafood will be available through traditional markets, supermarkets, online and offline wholesale markets, and business-to-business transactions. Consumers can expect to purchase items at prices 30-40% lower than usual. Products such as mackerel fillets, cut pollock, and dried squid will be offered as processed goods, providing consumers with a variety of choices.
The supply will include 5,500 tons of pollock, 1,000 tons of mackerel, 900 tons of squid, and 600 tons of hairtail, marking the largest government supply during the fishing season. The ministry prioritized items that have seen price increases or unstable supply and demand. Future market supply will be adjusted based on price fluctuations during the supply period.
Minister of Oceans and Fisheries Hwang Jong-woo stated, "We decided to supply stocked seafood considering high prices, the onset of the fishing season, and seafood supply trends." He added, "We hope this supply allows consumers to enjoy quality seafood at reasonable prices, and we will closely monitor seafood prices for stability until fishing resumes."
* This article has been translated by AI.
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