Photo: Stockfile/FIS

Korean Imports of Frozen Rays (skate) Drop 40%, Import Prices Rise 16%

SOUTH KOREA
Tuesday, October 01, 2024, 00:10 (GMT + 9)

In August 2024, South Korea’s frozen ray imports experienced a sharp 40% decline compared to the previous year. Only 453 tons were imported, a significant decrease from the 755 tons imported during August 2023.

Cumulative imports for the year until August reached 4,606 tons, representing a slight 4% drop from the 4,774 tons recorded by the same period in 2023. Frozen ray accounted for approximately 0.8% of the total seafood imports, which amounted to 5,583,751 tons in total.

The United States led as the top supplier, exporting 2,378 tons of frozen ray, which made up 52% of South Korea’s total imports. Argentina followed with 985 tons (21%), while Indonesia, Vietnam, and Brazil contributed 271 tons, 193 tons, and 182 tons, respectively.

Argentina's frozen ray commanded the highest import price at USD 5.42 per kilogram, followed by the U.S. at USD 3.55, Indonesia at USD 3.98, and Papua New Guinea offering the most affordable price at USD 1.00 per kilogram.

In terms of value, August 2024 imports were worth USD 1.59 million, reflecting a 34% decline from the USD 2.40 million recorded in the same month of 2023. Despite this, the cumulative import value for 2024 rose 12%, reaching USD 18.47 million, up from USD 16.49 million the previous year. The average import price for frozen ray until August 2024 was USD 4.01 per kilogram, a 16% increase from last year’s average price of USD 3.46 per kilogram.

As a reference, the domestic wholesale price for frozen ray of Argentine origin stands as follows: for a 13.21kg lot, size 500/1000 is priced at 76,000 KRW, while a 10kg lot, size 100/400 is traded at 89,000 KRW.

Source: Union Forsea Corp.

[email protected]
www.seafood.media

Print