Mackerel Shortages Loom as Climate Change and Overfishing Take Their Toll (Yonhap)
SEOUL, Jan. 6 (Korea Bizwire) — The oceans ministry said Tuesday it plans to expand imports of mackerel through the tariff-rate quota system and release government reserves amid soaring prices.
Starting this month, the Ministry of Oceans and Fisheries said it plans to release 2,000 tons of mackerel from its stockpiles with a 30 to 50 percent discount, while importing 20,000 tons with zero tariffs.
The tariff-rate quota system allows certain volumes of imports to benefit from lower tariff rates within a specified limit. The tariff on mackerel is currently set at 10 percent.
The quota represents a twofold rise from 10,000 tons allocated in 2025.
South Korea has been making efforts to diversify mackerel imports from Britain and Chile, following reduced production in Norway, which accounts for roughly 80 to 90 percent of total imports.
(Yonhap)
