Lotte Mart Supports Struggling Fishermen with Discounts on Abalone and Flatfish
[Asia Economy Reporter Seungjin Lee] Lotte Mart has stepped up to help fisheries suffering from reduced consumption and blocked export routes due to the novel coronavirus disease (COVID-19).
Lotte Mart announced that from the 19th to the 25th, it will hold a promotional event to boost consumption by offering discounts on flatfish and abalone, whose sales have recently plummeted.
According to customs export-import trade statistics on the 16th, the export value of flatfish in 2019 decreased by 13.3% compared to the previous year, and exports to Japan, which accounts for more than half of total exports, also fell by 19.8%. Additionally, domestic consumption has declined, with the price of flatfish at production sites in February this year dropping 22.3% to 8,072 KRW per kilogram for 2kg raw fish, compared to 10,388 KRW last year.
The situation is similar for abalone. According to the Ministry of Oceans and Fisheries, abalone exports in February also decreased by about 20%, and production site prices fell by approximately 15%. Furthermore, Lotte Mart's sales analysis last month showed that flatfish sales decreased by 14.8% and abalone sales by 23.9% compared to the previous year.
Accordingly, Lotte Mart is selling ‘Domestic Live Flatfish Sashimi (200g)’ for 9,800 KRW, ‘Flatfish Sushi (10 pieces)’ for 6,800 KRW, ‘One Tray of Abalone (10 pieces)’ for 14,800 KRW, and ‘Wando Live Abalone (Special)’ for 4,480 KRW.
Since 2018, Lotte Mart has been electronically controlling dissolved oxygen levels and water temperature through smart mooring facilities in cooperation with Wando Abalone Co., Ltd., and maintains freshness by keeping the entire process in a cold chain system from the dedicated fresh packaging room to the customer's table.
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Lee Yong-ho, head of Lotte Mart’s seafood team, said, “We prepared this event to help flatfish and abalone fisheries struggling due to the sharp decline in exports and consumption slump.” He added, “We have prepared 30 tons of flatfish and 50 tons of abalone stocked at production sites, hoping this will help overcome the difficulties faced by fisheries even a little.”
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