The typical value of ‘Yangban Kim’ elevated by 15%… One bundle prices over 10,000 gained

2024-05-25 20:06:22

Imbalance between provide and demand resulting from declining provide amid booming exports
Authorities decides to help seaweed low cost in June as effectively

Information 1

Dongwon F&B, the No. 1 firm within the seasoned seaweed market, can also be elevating seaweed costs.

On the twenty fourth, Dongwon F&B introduced that it could improve the costs of all Yangban Seaweed merchandise by a mean of about 15% from the first of subsequent month. The principle merchandise, ‘Yangban perilla oil seaweed (20 baggage for desk)’, rose 15.8% from 9,480 gained to 10,980 gained, and ‘Yangban sesame oil seaweed (9 baggage for desk)’ rose 14.6% from 4,780 gained to five,480 gained. The value improve applies to all distribution channels, together with giant supermarkets, comfort shops, and on-line. Dongwon F&B mentioned, “The value of seaweed, the uncooked materials earlier than processing seasoned seaweed, has doubled in comparison with the earlier 12 months, worsening profitability.”

Earlier this month, CJ CheilJedang raised the worth of seaweed by a mean of 11.1%. Gwangcheon Seaweed, Daecheon Seaweed, and Seongseong Meals additionally raised the costs of their main merchandise by about 10-30% beginning this month.

Korean seaweed is gaining recognition, with exports exceeding 1 trillion gained for the primary time final 12 months. Based on the Korea Customs Service’s export and import statistics, seaweed exports within the first quarter of this 12 months (January to March) amounted to $131.71 million, an 18.9% improve in comparison with the identical interval final 12 months. Alternatively, throughout the identical interval, seaweed manufacturing solely elevated by 5.4%.

As the availability and demand imbalance continued, the worth of seaweed rose from the wholesale stage. Based on the Korea Maritime Fisheries Growth Institute’s Fisheries Remark Middle, the common wholesale value of seaweed for gimbap nationwide final month was 10,089 gained per piece, up 80.1% in comparison with the identical month final 12 months. Throughout the identical interval, conventional seaweed (101.3%), inexperienced seaweed (93.8%), and stone seaweed (60.9%) additionally rose one after one other, persevering with ‘seaweed inflation’.

The federal government plans to proceed offering seaweed low cost help in June and rapidly introduce a quota tariff of 825 tons. We plan to stockpile garlic and onions, that are underperforming in some areas, if crucial, and improve provide of rooster, which is in rising demand as a well being meals in the summertime, by incentive help.

Reporter Jeong Website positioning-young [e-mail]
Sejong = Reporter Tune Hye-mi [e-mail]

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2024-05-25 20:06:22