Hansung Enterprises, which is catching pollack through deep-sea fishery, is strong on the news that pollock is 98% dependent on Russian imports.
As of 11:31 am on the 2nd, Hansung Enterprises is trading at 6,560 won, up 640 won (10.81%) from the previous day.
Prices for Norwegian salmon are showing signs of skyrocketing as Russia’s invasion of Ukraine continues for the sixth day.
According to the seafood distribution industry on this day, the wholesale price of imported raw salmon from Norway, which will be customs clearance and in stock next week, is expected to rise from the current market price by 10,000 won (62.5%) to 26,000 to 28,000 won per kg.
This is because air transport is being disrupted as Russia, the transit point, has closed its airspace for European countries, and air traffic to Korea is blocked.
In addition, as Korea participates in sanctions once morest Russia, concerns are rising that the supply and demand of imported seafood, such as snow crab and pollock, which is highly dependent on Russia, will be disrupted.
Russia’s share of Korea’s seafood imports is regarding 8%, or 488,708 tons, the second highest following China, with 909,946 tons.
In particular, pollack and snow crab account for more than 90% of total imports from Russia.
Of last year’s imports, frozen pollack accounted for 89% and dried pollack 92%.
This news is interpreted as an upward trend in the stock market as a result of a buying trend in seafood-related stocks.
Hansung Enterprises is engaged in catching pollock and tuna through five Bukyang trawl boats. According to the 2021 business report, 8553 tons of pollock and 3,600 tons of tuna were caught, accounting for 30% of the total sales.
Since the intraday trading trend is a provisional value, it may differ from the actual trading trend.
All liability arising from this lies with the investor himself.
