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Seafood exports up 10.9 percent in first three quarters of 2017

According to Yonhap News,

(SEOUL=Yonhap News) Exports of South Korean seafood rose 10.9 percent in the first nine months of 2017 from a year earlier on strong demand for dried laver and tuna, the maritime ministry said Sunday.

The country's outbound shipments of fish, shellfish and seaweed were valued at $1.74 billion during the January-September period, up from $1.56 billion tallied a year ago, according to the Ministry of Oceans and Fisheries.

The seafood exports increased for 17 consecutive months since May 2016 and monthly sales reached over $200 million won for six months in a row.

Seafood sales to Japan, the country's largest seafood market, went up 10.2 percent on-year to $590 million in the nine month period, led by strong sales of dried laver, tuna and oysters.

China imported $290 million worth of South Korean seafood over the period, down 0.2 percent. Despite strong sales of Korean dried laver and cod, exports of squid and fish cake declined in the nation.

Except for squid and abalone, overseas sales of other seafoods making up the top 10 sales items posted growth this year.

Among the top 10 items, exports of most seafood products rose during the period from a year earlier.

Exports of dried laver, in particular, skyrocketed 50.3 percent to $410 million in the first three quarters as China and Japan had a sluggish harvest and prices went up this year, the ministry said.

Overseas sales of tuna also advanced 5.5 percent to $430 million, while squid fell 24.4 percent to $70 million in the same period, it noted.

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Source: Yonhap News (Oct. 15, 2017)
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