Photo: Union Forsea Corp.

South Korean Imports of Fresh Salmon Decline by 12%

SOUTH KOREA
Thursday, October 31, 2024, 07:00 (GMT + 9)

As of September 2024, South Korea’s imports of fresh salmon have decreased by 12% year-over-year.

In September alone, 1,386 tons of fresh salmon were imported, a slight 2% decrease from the 1,419 tons recorded during the same month in 2023. Cumulative imports for 2024 reached 12,259 tons, down from 14,009 tons in the previous year. Fresh salmon made up 1.88% of South Korea’s total seafood imports, which amounted to 651,137 tons.

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Breaking down imports by origin, Norway accounted for 98% of South Korea’s fresh salmon imports, supplying 12,259 tons. Smaller quantities were sourced from Canada (85 tons), Australia (59 tons), Chile (57 tons), and the UK (29 tons). Norwegian salmon also commanded the highest import price at USD 13.15/kg, followed by salmon from Canada at USD 12.29/kg and Australia at USD 10.97/kg.

The value of fresh salmon imports in September totaled USD 15.33 million, marking a 3% decline from USD 15.86 million in September 2023. Cumulative import value for 2024 reached USD 160.93 million, down 21% from USD 204.47 million during the same period last year. The average price of chilled salmon imports in 2024 was USD 13.13/kg, a 10% decrease from USD 14.60/kg in 2023. This reduction in imports reflects shifts in South Korean salmon demand and broader changes in the global seafood market.

Source: Union Forsea Corp.

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