Housewife Kim Ga-young, 40s, was recently shocked during a trip to the mart. The price of squid was higher than she thought. Kim lamented, "My husband and son love braised squid, so I usually buy a lot, but this time I only picked up two," adding, "I try to buy domestic products as much as possible, but it's burdensome when prices rise like this."
The rapid rise in sea temperatures has plunged the common people's dining table into crisis. In particular, catches of popular fish species such as squid, mackerel, and anchovies have plummeted, causing prices to soar.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 3rd, as of the 28th of last month, the price of refrigerated fresh squid from coastal waters was 9,417 won per squid. This is a 21.2% increase from a year ago and a 27.2% increase compared to the average.
Especially in Seoul, the price per squid has exceeded 10,000 won, earning it the nickname "golden squid." The price of squid in Seoul is 11,430 won per squid, a 49.4% surge compared to the previous month and a 54.42% surge compared to the average.
Domestic refrigerated mackerel, known as the national fish, also rose by 20.7% year-on-year to 4,653 won per fish. Dried anchovies also jumped in price to 2,534 won per 100g, up 17.2% from a year ago and the same figure compared to the average.
This phenomenon is attributed to the direct cause of rising sea temperatures due to climate change. According to the '2024 Fisheries Production Trend Survey' released by Statistics Korea, production of common squid, which is the general squid, was 14,000 tons last year, a 42% decrease from the previous year. Compared to 2019, five years ago, it has decreased by as much as 74%.
Mackerel and anchovy production also decreased by 17.4% and 18.8% last year, respectively. Hairtail production also decreased by 26.6%, causing the price per fish to soar to 18,400 won, up 22.2% from a year ago.
In response, the Ministry of Oceans and Fisheries is making efforts to come up with measures to respond to climate change, such as recently ordering a research service to 'Integrate Production of Marine Climate Change Monitoring and Prediction Information in 2025.' A Ministry of Oceans and Fisheries official explained, "The goal is to monitor climate factors such as water temperature, sea level, salinity, and currents to produce long-term marine climate prediction scenarios."
The Ministry of Oceans and Fisheries also plans to build a supply and demand/price variability prediction system that comprehensively analyzes production, origin prices, inventory, and export/import volumes of major popular fish species.
However, experts predict that this "fishflation (fish + inflation)" phenomenon will be difficult to resolve in the short term. This is because climate change is continuing in the long term, and it will take considerable time for the marine ecosystem to recover.
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