Product Prices To Remain Stable & Pollack Quota Up02 November 2011
SOUTH KOREA - South Korea's fisheries remain stable as fishery product prices level and the country secures its pollack quota in Russian waters, allowing an extra 10,000 tons of catch this year.
YonhapNewsAgency reports that prices of agricultural and fishery products in South Korea will remain stable "for the time being," a senior finance ministry official said Wednesday, suggesting that could help keep a lid on inflation.
"Farm and fishery product prices are expected to remain stable for the time being as their supply and demand cycle is returning to normal," Vice Finance Minister Shin Je-yoon said during a price stabilisation meeting.
South Korea has also secured the right to catch 10,000 tons more of pollack in Russian waters this year to meet its domestic demand for the fish, the farm ministry said Tuesday.
According to the ministry, South Korea will be allowed to catch a total of 50,001 tons of pollack in Russian waters this year.
TheFishSite News Desk