Unyielding Cheonil Salt Prices... Government "Soon Discount Release, Hoarding Ban Measures"

Retail price of 5kg Cheonil Salt around 14,000 won... Twice the average
Ministry of Oceans and Fisheries "Preparations for related measures complete"

As the price of sea salt surged ahead of the planned discharge of contaminated water from Fukushima, Japan, the government has decided to take measures such as discount releases and prohibiting hoarding.

On the 27th, a Ministry of Oceans and Fisheries official stated, "We have completed preparations for measures to supply discounted sea salt through government stockpiles and additional purchases, as well as designating it as a hoarding-restricted item, and are currently on the verge of implementation." This means the government will soon directly intervene in the sharp price increase and shortage of sea salt.

The government has been holding daily briefings since the 15th, providing updates on the overall situation related to the contaminated water discharge, seafood safety management, and the supply and demand status of sea salt.

Until now, the government refrained from direct intervention, urging restraint from unnecessary stockpiling by stating that "there will be no supply issues in the future as production recovers." Later, it announced it would actively respond to distribution order disruptions and unfair price formation practices, and from the 25th, it began operating a joint inspection team in earnest. Although the government increased its response to hoarding, it had avoided direct intervention. This is because if the government directly supplies discounted sea salt, a phenomenon similar to the sharp price rise and subsequent drop seen after the 2011 Great East Japan Earthquake could occur again.

However, with sea salt prices remaining high and shortages appearing at some retailers, the government has no choice but to intervene directly. According to the Korea Agro-Fisheries & Food Trade Corporation, the retail price of 5 kg of coarse salt was 14,542 won as of the 26th, up 16.3% from a month ago. This is nearly double the average price (7,987 won), representing a sharp increase.

There are two main ways the government plans to directly stabilize the sea salt market. One is to supply discounted sea salt by purchasing additional stock beyond the government’s reserves, and the other is to designate sea salt as a hoarding-restricted item to prevent stockpiling. Both measures are ready for implementation.

A Ministry of Oceans and Fisheries official said, "Sea salt production is sufficient, but due to speculative demand, price instability and shortages are occurring, so we plan to implement these two measures to resolve the issues. Supplying sea salt to consumers in a timely manner is the top priority, so we are finalizing which distribution stage will receive the discounted sea salt."

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