Fisheries minister vows to curb soaring squid prices
The government will take every possible measure to stabilize soaring seafood prices, which have particularly resulted from a shortage of squid caught in the East Sea after a rise in water temperatures, the fisheries minister said Thursday.
During his inaugural luncheon with reporters, Minister of Oceans and Fisheries Kang Do-hyung emphasized the importance of curbing the surge in squid prices by the end of this month. He expressed the difficulty of increasing squid catch rates, particularly in light of the impending start of mass squid imports next month.
“We will tap into the government’s inventory of seafood products and offer discount events,” Kang said. “We will be able to stabilize seafood prices in April.”
Before the luncheon, the government announced that it started supplying up to 600 tons of the six-most popular types of seafood products held in reserve. The six types are pollock, mackerel, squid, hairtail, yellow croaker and dried anchovies.
Under an agreement with E-Mart, Homeplus and Lotte Mart, the ministry decided to continue discount events at their stores until April 14. The events were initially supposed to end on March 22.
Kang also told reporters that the ministry is in talks with relevant institutions about when and how to resume the sale of HMM. The nation’s leading container shipping company’s privatization ended in failure last month, as the government and the preferred bidder, Harim Group, could not reach an agreement.
We will be able to stabilize seafood prices in April.
His comments coincided with the interpretation by some market insiders of his previous denial earlier this month regarding any intention to recommence the sale. This was perceived as the ministry taking a negative stance on the privatization of the shipping firm.
In light of a string of recent accidents involving fishing boats at sea, and with the approaching 10th anniversary of the tragic sinking of the Sewol ferry on April 16, 2014, resulting in the loss of 304 lives, Kang underscored the gravity of those incidents and affirmed that the ministry is deeply concerned and has engaged in discussions with relevant institutions to formulate effective countermeasures.
In response to a question about growing calls from maritime industry officials to restore the position of the presidential secretary for oceans and fisheries, the minister promised that he will deliver their request to the presidential office, while checking whether the government has sufficient budget and manpower to accept the request.