Lotte Mart Sells Price-Stabilized Anchovies for 11,900 Won

[Asia Economy Reporter Cha Min-young] Precious anchovies have appeared during the fishing ban season.

Lotte Mart will sell 'Price-Stabilized South Coast Stir-fry Anchovies' at all stores nationwide starting from the 18th. The 'Price-Stabilized Anchovies' being introduced this time are government-stocked seafood products. To stabilize fishermen's income, popular fish species are intensively stocked in season and then released during seasons when catch volumes decrease causing prices to surge or when demand spikes.

According to Agricultural Product Distribution Information, as production decreased, the price of stir-fry anchovies as of April 2020 rose to 17,554 KRW per kilogram, showing about a 50% increase compared to the same period the previous year.

Accordingly, under the supervision of the Ministry of Oceans and Fisheries, Lotte Mart plans to release 20 tons of government-stocked anchovies to increase supply and stabilize prices. At all stores nationwide, 'South Coast Stir-fry Anchovies (500g)' will be sold for 11,900 KRW until stocks run out. This price is approximately 15% cheaper than previous promotional products.

Park Yoo-seung, MD (Merchandiser) of Lotte Mart's Dry Food Team, said, "We decided to sell government-stocked seafood to ease the burden on customers who are feeling the financial strain due to the COVID-19 pandemic," adding, "Starting with anchovies, we will prepare various dried seafood products at affordable prices to help reduce customers' cost of living burdens."

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