A Plate of Flounder Costs 26,000 Won at Supermarkets... "Prices Will Rise Further"

Extreme heatwaves are warming up the ocean, leading to mass mortality at some fish farms and causing seafood prices to fluctuate.

Because the ocean heats up more slowly than land with a time lag, experts project that the heatflation (inflation driven by heatwaves) phenomenon in seafood will become even more severe in September.

According to the major supermarket industry on the 9th, 300 grams of sliced raw flounder is being sold at supermarkets for around 25,000 won.

For products sold in bulk blocks with reduced slicing processes, the price is in the 23,000 won range at E-Mart and the 26,000 won range at Lotte Mart.

Compared to early May, when E-Mart held a discount event selling 360 grams of raw flounder for around 19,000 won, prices have risen sharply over a three-month period.

May is typically the cheapest time of the year for raw flounder prices due to an increase in the catch of wild flounder.

Wholesale prices have also been on the rise recently.

According to the Suhyup Noryangjin Weekly Fishery Trends, the average auction winning price for 1 kilogram of cultured flounder from July 27 to August 1 was 22,300 won, up 2.29% from a week earlier.

Compared to July of last year, it marked a 13.2% increase.

This is interpreted as the aftermath of continuous heatwaves, which included the death of some 21,000 cultured flounder at a fish farm in Jeju at the end of last month.

The optimal water temperature for flounder is 18 to 25 degrees Celsius, and temperatures exceeding 27 to 28 degrees Celsius can cause damage due to high water temperatures.

As for wild gizzard shad, the catch has decreased because high water temperature phenomena in the West Sea have reduced the number of fish approaching the coast, causing market prices to skyrocket.

The previous day, the average auction winning price for 1 kilogram of live gizzard shad at the Noryangjin Fisheries Wholesale Market was 17,000 won, up 10,000 won from August 2 of last year (7,000 won), when live gizzard shad auctions were held.

Wholesale prices for rockfish, whose farms are mainly located in the South Sea, are also remaining high.

According to Suhyup Noryangjin, the median auction winning price for 1 kilogram of rockfish as of the 6th stood at 25,000 won.

Because the ocean heats up more gradually and cools down more slowly than land, the period when water temperatures around the Korean Peninsula are at their highest is from late August to early September.

Consequently, the impact of high inflation caused by the heatwaves is expected to grow even larger in September.

When catches decrease due to heatwaves, wholesale prices rise, inevitably triggering a chain reaction that raises sashimi prices at large supermarkets and raw fish restaurants.

An official in the distribution industry stated, "The impact of high water temperatures has only just begun and is expected to be greatest in September," adding, "For raw fish ingredients, high market prices will likely continue, centered around flounder and rockfish."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.