Korean pollack paucity blamed on Russia in a fishy tale

Industry

Published: 22 Feb. 2023, 15:09 Updated: 22 Feb. 2023, 18:44

Korean pollack paucity blamed on Russia in a fishy tale

Pollack being dried over the winter [YONHAP]

Pollack, a fish popular in Korea, has become more expensive since the war between Russia and Ukraine started.

It's now more difficult to import pollack from Russia, from where much of the fish is sourced.

One pollack now costs an average of 3,608 won ($2.77) at discount marts and traditional markets, according to Korea Agro-Fisheries and Food Trade Corporation, the state-run food distribution regulator.

The price of pollack was in the 2,000-won range before the war.

It was 2,363 won in 2019, 2,547 won in 2020 and 2,581 won in 2021. The price was still in the mid-2,000s in January 2022, but when the war broke out the following month, it skyrocketed by 57 percent to 3,837 won per pollack in September.

According to the Ministry of Oceans and Fisheries, 98 percent of all imported pollack is from Russia.

When hostilities began, wholesalers fearing a shortage bought in bulk and hoarded, importing 57,000 tons of pollack from Russia in April 2022, up from 17,000 tons in the same month a year earlier.

Due to the rush for inventory, prices were forced up.

Fish products are on sale at a superstore in central Seoul on Feb. 9. [YONHAP]

Pollack comes into Korea mainly via three supply routes: pollack caught by Russian fishing boats; pollack caught by shipping companies jointly established by Russia and Korea; and pollack caught in Russia by Korean-flagged vessels.

With dollar payments to Russia now all but impossible, it has been difficult to buy pollack or pay for fishing rights.

“We plan to have talks with the Russian government to prevent damage in the oceans industry and pollack supply,” Lee Jae-young, Fisheries Ministry distant-water fisheries director, said. “We will pursue talks in March and April to allow for our flag vessels to fish in Russian waters from May or June.”

China is also factor. The country prohibited the import of pollack from Russia in 2021 for Covid-19 reasons, and distributors in Korea shifted their supply to that market, leaving fewer pollack for Korean consumers.

“The supply concerns played a role in the early stages of the Russia-Ukraine war,” said Kim Soo-hyun, a researcher at the Korea Maritime Institute, a maritime and fisheries think tank.

“Higher costs for labor and logistics implemented in the latter half of last year are keeping pollack prices high,” Kim added.

BY KIM KI-HWAN [sohn.dongjoo@joongang.co.kr]