IN BRIEF - Cumulative Imports of Frozen Squid Tube Decrease by 61% in June
SOUTH KOREA
Wednesday, July 17, 2024
In June 2024, the volume of frozen squid tube imported into South Korea totaled 1,832 tons, marking a 60% decrease compared to 4,557 tons imported during the same period in 2023. The cumulative import volume stands at 7,177 tons, down 61% from 18,534 tons in the previous year, accounting for 2% of the total import volume of 445,418 tons.
The breakdown of frozen squid body imports by country is as follows
China : 4,012 tons (56% of total)
Chile : 2,280 tons (32% of total)
Peru : 527 tons
Argentina : 167 tons
Indonesia : 118 tons
The import prices by country are
Argentina : USD 5.58/kg
China : USD 2.31/kg
Chile : USD 1.66/kg
In n June 2024, the import value of frozen squid tube amounted to USD 3.66 million, a 56% decrease from USD 8.39 million in the same period of 2023.
The cumulative import value stands at USD 15.33 million, down 57% from USD 35.52 million in the previous year.
By reference The domestic wholesale distribution price for frozen squid tube is set at 68,000 KRW for a 4kg bundle of Vietnamese.
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