Demand Surges as SNS Trends Boost Popularity... Prices Soar Ahead of Peak Season
Supply Drops Due to Red Tide and High Water Temperatures... Retail Price Exceeds 50,000 Won per Kilogram
As yellowtail has established itself as a popular "seasonal winter dish," its market price has been soaring without restraint. In particular, as yellowtail sashimi has recently been spotlighted as a winter delicacy on social networking services and television broadcasts, demand has surged explosively. However, supply has failed to keep up, resulting in rising prices.
According to price information from the Noryangjin Fisheries Wholesale Market in Seoul on December 10, 3.3 tons of Japanese yellowtail were auctioned that day, with the average winning bid at 33,600 won per kilogram. This represents an 81.6% increase compared to early this month, when more than 9 tons were traded daily at 18,500 won per kilogram, and a 57.0% increase compared to the auction price (21,400 won) on the same day last year.
The rise in yellowtail prices has been attributed to a decrease in supply due to climate issues. Yellowtail inhabit coastal waters at depths of around 200 meters and are mainly caught or farmed off the southern coast, including Jeju Island, Tongyeong, and Geoje. However, this summer, a large-scale die-off of farmed fish occurred along the southern coast of South Gyeongsang Province, where a red tide warning was issued, significantly impacting the yellowtail supply.
The sharp decline in Japanese yellowtail supply, which accounts for the majority of auctioned yellowtail, has been identified as the main factor behind the price surge. Some Noryangjin merchants have commented, "At these prices, it's hard to justify eating yellowtail," and "At this price, I'd rather eat something else." Meanwhile, the auction price for Tongyeong black sea bream, considered a premium fish, is in the 30,000 to 40,000 won per kilogram range.
As auction prices have soared, retail prices have risen even faster. On December 10 at Noryangjin Fisheries Market, the retail price for large yellowtail exceeded 50,000 won per kilogram, while extra-large yellowtail weighing 10 kilograms traded at 600,000 won each. Yellowtail reach their peak season from November to February as their fat content increases, and larger fish are especially prized for their rich flavor.
Meanwhile, as demand has become overly concentrated on yellowtail, the prices of other sashimi fish have dropped comparatively. The average auction price for Japanese red sea bream fell below 20,000 won per kilogram, while both Chinese and domestic sea bass were traded in the 20,000 to 23,000 won per kilogram range.
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