At Its Peak... Autumn Jeoneo Prices Plummet

Production Up 20% Year-on-Year but Demand Drops Due to Local Festival Cancellations
Jeoneo Price: 20,000 KRW/kg Last Year, Around 4,000 KRW This Year
Distribution Industry Actively Supports Fishermen with Discount Events

[Asia Economy Reporter Lim Hye-seon] Due to the impact of the novel coronavirus infection (COVID-19), the price of Jeoneo, one of the representative "autumn delicacies," has also dropped.

According to the Seoul Agricultural & Marine Products Corporation on the 11th, wild live Jeoneo was traded wholesale at 3,639 KRW per kilogram based on the top grade at Garak Market on the 10th. Compared to last year's average wholesale price of 20,217 KRW per kilogram, this is an 83.0% decrease. The price of Jeoneo, which was traded around 20,000 KRW per kilogram last year, dropped to an average of around 4,000 KRW from August 14 to September 10. The local market price also formed about 30% lower than last year.

Jeoneo is a fish species that represents autumn. After spawning in spring, the taste and nutrition of autumn Jeoneo, which has gained weight, are exquisite. Jeoneo is rich in omega-3 fatty acids, which help brain development in growing children and have the effect of lowering blood cholesterol, making it good for vascular health. The origin of the name "Jeoneo (錢魚)" means that it tastes so good that people buy it without thinking about money.

An official from the distribution industry explained, "Jeoneo comes to the market from the end of August, but this year the timing was about a week earlier," adding, "Although the catch volume increased compared to last year, sales decreased as all festivals in the Yeongnam and Chungcheong regions were canceled due to the spread of COVID-19." The catch volume of Jeoneo in the production areas increased by more than 20% compared to last year.

To help fishermen facing difficulties, the distribution industry prepared various events. Emart held a Jeoneo discount event from the 3rd to the 9th of this month. Emart sold one Jeoneo (about 80g) at 450 KRW, a 25% discount from the regular price. During this period, 18 tons were sold. An Emart official explained, "Jeoneo sales increased by 250% compared to the same period last year."

GS The Fresh is purchasing and selling 15 tons of Jeoneo from fishermen in Yeosu and Goheung in Jeollanam-do and Seocheon in Chungnam until the 15th. This is more than 10 times the scale of last year. GS The Fresh sells two types of Jeoneo: wild Jeoneo sashimi (250g) and Jeoneo for grilling. Wild Jeoneo sashimi is sold at 9,800 KRW, more than 30% cheaper than last year. The price of Jeoneo for grilling is 5,900 KRW per pack of six. Lotte Mart will hold a Jeoneo discount event from the 17th to the 23rd. The discount rate is 20-30%. A Lotte Mart official said, "We are preparing a special exhibition mainly for Jeoneo for sashimi," adding, "Consumers will be able to buy Jeoneo at an affordable price."

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