Aquaculture for all

South Korean Tuna Exports Surge

Tuna Sustainability Economics +5 more

SOUTH KOREA - South Korea's tuna exports rose 42.1 per cent on-year in 2014 thanks mainly to more fish caught by local fishing vessels.

According to the Korea Customs Service (KCS) data published last week, tuna exports reached 200,000 tons last year, up from 141,000 tons in 2013, reported Yonhap News Agency.

The value of the exports edged up 0.8 per cent to US$354 million from $351 million the year before.

The KCS said aggressive fishing for tuna that brought in larger hauls was the main reason for the export rise, as well as overseas demand for skipjack tunas used to make canned food.

Japan, Thailand and Vietnam were the top three largest export markets for tuna fish last year, accounting for 74.7 per cent of all shipments.

In regards to imports, volume was down 3.9 per cent on-year to 11,000 tons in 2014. Total fish imported last year reached $63 million, up 5.8 per cent from $60 million the year before.

The latest data showed most of South Korea's tuna imports came from China, Taiwan and Micronesia last year with most being expensive bigeye and bluefin tunas that are eaten raw.