To Stabilize Prices, Government Supplies 6,070 Tons of Stockpiled Seafood Including Pollock, Mackerel, and Squid

[Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries announced on the 17th that it will supply 6,070 tons of six types of government-stockpiled seafood (pollock, mackerel, squid, hairtail, yellow croaker, dried anchovies) to the market for 24 days from the 18th to the 10th of next month to stabilize prices during the fishing off-season.

The release quantities by item are 3,869 tons of pollock, 1,099 tons of mackerel, 313 tons of squid, 463 tons of hairtail, 279 tons of yellow croaker, and 47 tons of dried anchovies. The Ministry plans to flexibly adjust the release volume during the release period considering price fluctuations and supply-demand conditions.

The government-stockpiled seafood will be primarily supplied to traditional markets, large retail stores, and home shopping channels where consumers can purchase directly. Remaining quantities will be allocated to wholesale markets or electronic bidding (B2B). Public home shopping will sell vacuum-packed dried croaker at 10:00 AM and 5:30 PM on June 10.

Until now, government-stockpiled seafood was supplied in unprocessed raw form, but this time, dried anchovies (47 tons), pollock (14 tons), and yellow croaker (21 tons) will be supplied as processed products to make it more convenient for consumers to purchase. Processed product sales will be conducted at Lotte Mart, GS Retail, and E-Mart.

The government-stockpiled seafood will be supplied at prices approximately 10-30% lower than market prices, enabling consumers to purchase seafood at affordable prices.

Meanwhile, the Ministry of Oceans and Fisheries will conduct on-site inspections targeting traditional markets and supermarkets to verify whether these items are being sold at the recommended retail prices, ensuring stable seafood prices.

Hwang Jun-sung, Director of Distribution Policy at the Ministry of Oceans and Fisheries, said, "Due to COVID-19, consumption of farmed seafood has been sluggish, but as the fishing off-season (a period of low catch) approaches, prices of caught seafood such as mackerel and hairtail released this time are rising due to decreased production. Therefore, we decided to release government stockpiles." He added, "We hope this will allow our consumers to access high-quality seafood at reasonable prices."

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