Last Year's Fishery Production 3.71 Million Tons... Decrease After 4 Years

Production Value Hits Record 8.8 Trillion Won
Statistics Korea '2020 Fisheries Production Trend Survey'

[Sejong=Asia Economy Reporter Moon Chaeseok] Last year, fishery production through capture or aquaculture decreased compared to the previous year.

Production of coastal and nearshore fisheries such as anchovies and hairtail increased, but production of shallow sea aquaculture like oysters and seaweed, distant-water fisheries such as skipjack tuna, and inland fisheries like eel declined.

Although production volume decreased, prices rose, resulting in the highest production value since statistics began.

Lowest Production Volume Since 2016...Only Coastal and Nearshore Fisheries Like Anchovies Increased

Trends in fishery production volume and production value over the past 6 years. (Source: Statistics Korea)

According to the "2020 Fishery Production Trend Survey Results" released by Statistics Korea on the 25th, the total seafood produced by domestic fishers through capture, harvesting, and aquaculture last year was 3.713 million tons, down 3.8% from the previous year.

Last year's fishery production was the lowest since 2016 (3.269 million tons). It was also the first decline in production volume compared to the previous year in four years since 2016 (-2.0%).

Production in general sea areas (coastal and nearshore fisheries) increased by 2.2% to 932,000 tons due to rising water temperatures boosting warm current species such as anchovies, hairtail, and spear squid.

However, production of mackerel, Spanish mackerel, and herring decreased.

Shallow sea aquaculture production was recorded at 2.309 million tons, down 4.2% from the previous year, due to poor harvests of seaweed, oysters, and kelp caused by prolonged monsoon and adverse weather conditions.

Distant-water fishery production was 437,000 tons, down 13.3% from the previous year, largely due to poor catch performance of skipjack tuna, which accounts for a significant portion of the catch. Production of pollock, yellowfin tuna, and squid increased.

Inland fishery production was 34,000 tons, down 3.8%. This was due to decreased consumption caused by COVID-19, leading to reduced production of eel, catfish, and trout.

Prices Rise, Production Value Hits Record High

Changes in fishery production by fishery type. (Source: Statistics Korea)

Although fishery production volume decreased, production value increased, reaching an all-time high.

Last year's fishery production value was 8.7582 trillion KRW, up 4.7% from the previous year.

This is the first time production value has exceeded 8.7 trillion KRW since statistics began in 1970. The year-on-year increase was the largest since 2017 (14.6%).

Production value of coastal and nearshore fisheries was 4.3669 trillion KRW, up 10.4% from the previous year, due to increased production of anchovies and hairtail as well as rising shipment prices.

Shallow sea aquaculture production value also increased to 2.9031 trillion KRW, up 3.5% from the previous year, despite decreased production of oysters and seaweed, because of higher sales prices.

On the other hand, distant-water fishery production value declined 6.7% to 1.0442 trillion KRW due to poor catch performance of major species like skipjack tuna and Pacific saury.

Inland fishery production value also fell to 444.1 billion KRW, down 8.4%, due to consumption shocks caused by COVID-19.

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