July 26, 2018

South Korea's aquaculture production drops while exports rise

South Korea's aquaculture output declined by 5.5% in the first half of the year as compared to the same period last year.

Statistics from the Ministry of Oceans and Fisheries showed that production decreased to 1.57 million tonnes, as a result of unfavourable weather conditions and the overall slump in demand.

The ministry explained that due to both attributing factors, there was a reduced harvest of sea mustard and flatfish, among others.

However, in the first half of the year, output figures of several major items, such as abalone and rockfish, were still 22% higher as compared to the average recorded over the past five years.

Additionally, official statistics also recorded an 8.7% rise in exports, which totalled up to 44,600 tonnes (in terms of volume) and a 10.5% rise in revenue, amounting to US$450 million.