Due to Poor Catch and Falling Sales Prices... Last Year's Fishery Production Value Decreased by 3.1%

Production value by fishery type.

[Sejong=Asia Economy Reporter Joo Sang-don] It has been revealed that the production value decreased last year due to poor catches in coastal and nearshore waters, as well as a decline in sales prices of farmed fish in shallow sea aquaculture and tuna species in distant-water fisheries.

According to the '2019 Fisheries Production Trend Survey Results' announced by Statistics Korea on the 21st, the fisheries production value was 8.3387 trillion won, down 3.1% (269.8 billion won) from the previous year (8.6085 trillion won).

In general marine fisheries, production decreased by 4.3% compared to the previous year due to reduced catches of anchovies, mackerel species, and hairtail, which have a high catch ratio. Shallow sea aquaculture saw a 3.5% decrease year-on-year due to a drop in sales prices of seaweed and farmed fish, which account for a large share of production. Distant-water fisheries also declined by 1.3% year-on-year due to falling sales prices caused by increased catches of skipjack tuna and Antarctic krill.

On the other hand, inland fisheries increased by 5.1% year-on-year due to rising sales prices driven by increased consumption of eel and crucian carp species.

The total fisheries production volume was 3.83 million tons, up 1.6% (60,000 tons) from the previous year (3.77 million tons). General marine fisheries decreased by 9.6% year-on-year due to reduced operations caused by the extension of voluntary fishing moratoriums for large purse seine vessels and frequent typhoons. Shallow sea aquaculture increased by 5.4% year-on-year thanks to favorable farming conditions for seaweed (such as gim and dashima) and shellfish (such as oysters and mussels), which have a high production share. Distant-water fisheries rose by 7.2% year-on-year due to increased resources of tuna species, Alaska pollock, and Antarctic krill, which have a high catch ratio. Inland fisheries decreased by 0.2% year-on-year due to sluggish consumption and farming activities of catfish and grass carp.

This content was produced with the assistance of AI translation services.