Sliced raw flounder. [Getty Images Bank]
Sliced raw flounder. [Getty Images Bank]

Seafood prices are surging as flounder — long dubbed Korea's go-to fish for raw dishes — takes a direct hit from the extreme heat. Mass die-offs at flounder farms have driven the price of a 300-gram serving of raw flounder to around 25,000 won ($18) at major retailers.

Because the ocean heats up more slowly than land, analysts expect the seafood "heatflation" effect — price increases driven by extreme heat — to intensify further in September.

According to hypermarket industry sources Sunday, block-cut flounder sashimi — processed with less slicing — is selling for around 23,000 won at E-mart and around 26,000 won at Lotte Mart.

That marks a sharp increase in just three months: in early May, E-mart ran a promotional sale offering 360 grams of flounder sashimi for around 19,000 won.

May is typically the cheapest month of the year for flounder sashimi, when catches of wild flounder peak.

Wholesale prices have also been climbing of late.

Data from the Noryangjin Fisheries Wholesale Market's weekly seafood price report show that the average auction price for farmed flounder reached 22,300 won per kilogram in the week of July 27 to Aug. 1 — up 2.29 percent from the previous week and 13.2 percent from July last year.

The rise is largely attributed to the prolonged heat wave, which caused more than 21,000 farmed flounder to die at Jeju fish farms late last month.

Flounder thrive at water temperatures between 18 and 25 degrees Celsius; temperatures above 27 to 28 degrees can cause heat-related damage and death.

Wild gizzard shad has also seen prices spike, as high water temperatures in the Yellow Sea have pushed the fish away from coastal waters, sharply reducing catches.

On Saturday, the average auction price for live gizzard shad at the Noryangjin market hit 17,000 won per kilogram — up 10,000 won from 7,000 won on Aug. 2 last year, the last time live gizzard shad auctions were held.

Wholesale prices for rockfish, farmed mainly in the South Sea, are also running high.

According to Noryangjin, the median auction price for rockfish as of Thursday stood at 25,000 won per kilogram.

Because the sea warms and cools more gradually than land, water temperatures around the Korean Peninsula typically peak between late August and early September. As a result, the inflationary impact of the heat wave is expected to grow even larger in September.


hanira@heraldcorp.com