‘The price of kimchi is worth gold’… Average monthly wholesale price soars 80%, surpasses 10,000 won for the first time
(Seoul = Yonhap News) Reporter Jin Yeon-soo = The wholesale price of dried seaweed rose 80% in a year, surpassing the monthly average of 10,000 won for the first time. According to a report by the Fisheries Observation Center of the Korea Maritime and Fisheries Development Organization on the 7th, the average wholesale price of seaweed for gimbap (second-hand goods) in April was 10,089 won per 100 pieces, an increase of 80.1% from the same period last year (5,603 won). The reason why seaweed prices are skyrocketing is because the export demand for seaweed has increased and the inventory has fallen to two-thirds of the normal level. The photo shows seaweed being displayed at a traditional market in Seoul on this day. 2024.5.7 jin90@yna.co.kr
(Seoul = Yonhap News) Reporter Kim Yun-gu = With prices soaring due to a shortage of domestic seaweed inventory, the Ministry of Oceans and Fisheries announced on the 9th that it will exempt seaweed import tariffs until September.
In order to stabilize the price of seaweed, the Ministry of Oceans and Fisheries temporarily excludes 700 tonnes of dried seaweed (basic tariff 20%) and 125 tonnes of seasoned seaweed (basic tariff 8%) from the tariff quota from the 10th to the month of September. 30th, before the seaweed production period decides to apply.
Currently, production of dried seaweed is smooth in the seaweed market, but wholesale and retail prices have soared as inventory has become scarce due to increased exports. Accordingly, the Ministry of Oceans and Fisheries explained that urgent measures are needed to stabilize seaweed prices before releasing this year’s production volume.
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However, as seaweed imports are at a negligible level, it is not clear how much seaweed prices will fall even if imports are increased by applying tariff quotas.
An increase in the selling price of seaweed
(Seoul = Yonhap News) Reporter Kang Min-ji = Citizens are shopping at a large supermarket in Seoul on the 8th when the selling price of seaweed rose. Gwangcheon Seaweed, Daecheon Seaweed, and Seongseong Foods, which are leading seaweed manufacturers with a high market share, raised the prices of their main products sold in large supermarkets by about 10-30%. 2024.5.8 mjkang@yna.co.kr
Currently, the inventory of dried seaweed is 49 million bundles (100 sheets), and the amount of import quota tariffs applicable until September is equivalent to 2.7 million bundles.
Last year, the weight of seaweed exports was 35,446 tons (tonnes), an increase of 16% from the previous year (30,470 tons), and an increase of 42% in 3 years compared to 2020 (24,960 tons).
On the other hand, the amount of seaweed imported last year was only 299 tonnes.
An official from the Ministry of Oceans and Fisheries said, “The importation of dried seaweed from China will have some effect in replacing demand,” and added, “It remains to be seen how much will be imported.”
The average price of dried seaweed last month rose 80% compared to a year ago, surpassing 10,000 won per package (100 pieces) for the first time.
CJ CheilJedang this month[097950]The price of seaweed sold in this supermarket and online increased by 11%. Gwangcheon Seaweed, Daecheon Seaweed, and Seongseong Food also raised the sale prices of major supermarket products by about 10-30% early this month.
ykim@yna.co.kr
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2024/05/09 11:00 Sent
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