Yellow Croaker Production Halved in Five Years
Highest Price Increase in 16 Years
Average Price Reaches 2,308 Won Per Fish
Dried Yellow Croaker and Key Holiday Goods See Successive Price Hikes
As the Chuseok holiday approaches, the price of yellow croaker has surged, increasing the burden of preparing traditional ancestral ritual tables. The price of yellow croaker, a representative ingredient for holiday dishes, has risen by more than 20% over the past year, and the price of dried yellow croaker, made from this raw material, has also increased accordingly. With prices of other key holiday goods such as potatoes, eggs, and mackerel also on the rise, the financial burden on ordinary households is growing.
The price of yellow croaker, a representative ingredient for traditional holiday dishes, has risen by more than 20% over the past year, and the price of dried yellow croaker, made from this raw material, has also increased accordingly. Getty Images
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) Agricultural Products Distribution Information (KAMIS) on October 3, the average price of one yellow croaker is 2,308 won. The average price for September was 2,192 won, up 22.1% from 1,794 won in the same month last year. Compared to the average price of 1,305 won in September 2023, it has soared by 67.9% in two years. National Data Office statistics also show that the price of yellow croaker jumped 15.7% year-on-year, marking the highest rate of increase in 16 years and 9 months since December 2008 (17.3%).
Fishermen in Gijang County, Busan, are drying sacrificial fish such as croaker, yellow croaker, red sea bream, flatfish, and squid. Yonhap News Agency
A sharp decline in catch volume is cited as the main reason. According to statistics from the Fisheries Outlook Center, yellow croaker production dropped from 41,039 tons in 2020 to 17,649 tons last year, falling to less than half over five years. This year’s cumulative production is only 1,320 tons, leading to projections that the annual production will be even less than last year. Yellow croaker is a migratory species that overwinters in the waters off Jeju Island and moves to the West Sea in spring to spawn, making it sensitive to changes in currents and water temperature. Analysts attribute the decline in catch volume to unstable fish populations caused by rising sea temperatures and changes in the marine environment due to climate change.
This has also driven up the price of dried yellow croaker. Dried yellow croaker is typically made by salting and freezing yellow croaker caught in March and April, then sold in the fall and winter. In recent years, the cumulative decline in catch volume has pushed up the price of Chuseok gift sets by around 10-15% compared to last year. According to industry sources, the wholesale price of yellow croaker used for dried yellow croaker has risen by nearly 50%.
In addition to yellow croaker, prices of other key Chuseok goods are also showing significant increases. Potatoes have risen by 13.6% year-on-year, marking the largest increase in 33 months, while eggs are up 9.2%, the highest in 3 years and 8 months. Mackerel (10.7%), garlic (12.1%), squid (5.5%), and pork (6.3%) have all seen price increases far exceeding the overall consumer price inflation rate of 2.1%.
To stabilize prices ahead of Chuseok, the government is expanding the release of reserved seafood and discount events. The Ministry of Oceans and Fisheries and aT are strengthening price monitoring both at traditional markets and online, and 254 markets nationwide are holding Onnuri gift certificate refund events. Consumers who purchase domestic seafood at traditional markets can receive a refund of up to 30%, with a limit of 20,000 won per person. Deputy Prime Minister for Economic Affairs Koo Yooncheol stated, "The government will do everything possible to ease concerns over Chuseok grocery prices."
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