Concerns over seafood contamination due to the upcoming release of contaminated water from the Fukushima nuclear power plant have sparked widespread consumer anxiety, resulting in a surge in stockpiling of salt, including sea salt. (Image courtesy of Yonhap)
SEOUL, June 21 (Korea Bizwire) —Amid concerns over the release of contaminated water from Japan’s Fukushima nuclear power plant, there has already surfaced on a second-hand trading website in Korea a so-called “radioactive fear-mongering marketing posting,” which attempted to sell salt for an exorbitant price of over 1.5 million won per 10 kilograms.
On Tuesday, an online trading platform listed 30 kilograms of 2010 Shinan sea salt for 1.5 million won. The seller emphasized that it was “13-year-old salt (produced) prior to the Fukushima nuclear explosion.” Shinan, Jeollanam-do, is renowned for its production of pristine sea salt.
Exploiting the growing anxiety among South Korean consumers regarding radioactive contamination, the seller capitalized on the fact that the salt was produced before 2011, when the Fukushima nuclear disaster occurred.
Furthermore, numerous advertisements have emerged for a 20kg bag of salt priced at over 60,000 won. This represents twice the cost of 20 kilograms of salt from 2021, which was priced at 30,000 won on June 8 at the Shinan Agricultural Cooperative Direct Store in Jeonnam.
The current price of newly-produced salt has also skyrocketed by 65 percent compared to last year. Industry insiders say that the demand for salt has surged due to concerns surrounding the Fukushima contaminated water issue. Simultaneously, the domestic salt supply has dwindled due to adverse weather conditions, leading to a sharp rise in salt prices.
As July and August, which mark the peak production season for sea salt, are anticipated to bring prolonged rain and a decline in production, coupled with concerns over the impending discharge of contaminated water from the Fukushima nuclear power plant, consumers are growing increasingly worried about seafood contamination. This anxiety has resulted in a surge in the stockpiling of sea salt and other salts.
As of June 19, the average retail price of coarse salt (5 kg) stood at 13,094 won, marking a 4.8 percent increase from last month (12,500 won) and a 17 percent increase from last year (11,189 won), according to the Korea Agriculture, Fisheries, and Food Distribution Corporation (aT).
The Ministry of Oceans, Maritime Affairs, and Fisheries clarified that salt production experienced only temporary interruptions in the past two months due to weather conditions. Government officials have reassured the public that there will be no supply issues once salt production recovers in June and July.
Ashely Song (ashley@koreabizwire.com))
