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South Koreans puzzled over rising seaweed prices despite bumper crop

Korea Economic Daily LogoKorea Economic Daily1h ago

South Koreans puzzled over rising seaweed prices despite bumper crop - Korea Economic Daily

Quick Summary:

According to the Korea Agro-Fisheries & Food Trade Corp.(aT) on Monday, the wholesale price of dried seaweed, widely used to make kimbap, or seaweed-wrapped rice rolls, stood at 10,780 won ($8.1) per sog, a Korean term that refers to 100 sheets, as of Aug.30, up 59.4% from 6,764 won a year earlier.Retail prices rose 33.4% over the same period to 1,365 won per 10 sheets.

According to the KMI, Korea’s dried seaweed exports to Japan in the three months from May were 2.89 million kilograms, up 33.1% from 2.17 million kilograms.Export prices were $30.68 per kilogram in the May-July period, up 49.6% from $20.51 a year earlier.

Distribution industry officials pointed to the increasing volume of exports to Japan as a possible reason, but government officials downplayed it, saying that the rise in dried seaweed export volume to Japan is insignificant compared to the production volume.


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South Koreans puzzled over rising seaweed prices despite bumper crop - Korea Economic Daily (Picture 1)South Koreans puzzled over rising seaweed prices despite bumper crop - Korea Economic Daily (Picture 2)South Koreans puzzled over rising seaweed prices despite bumper crop - Korea Economic Daily (Picture 3)

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Article Details

Category: Economy

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 21:25:22 (1 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 563 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 22331108

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About Korea Economic Daily

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 16 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 2 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #91

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