Booming K-seaweed exports not pushing up domestic prices, study finds

Korean seaweed exports are hitting record highs, but there is limited evidence that the surge is consistently driving up domestic consumer prices, according to a new analysis. While rising exports have had some effect at the raw-harvest stage, that impact is largely absorbed through processing and retail before it reaches consumers.

A Korea Maritime Institute study titled "Impact of Seaweed Export Expansion on Domestic Prices," which analyzed monthly data from 2005 to 2025, found no sustained pattern of consumer prices rising in step with export growth.

The researchers examined raw seaweed farm-gate prices, wholesale and retail prices for dried seaweed sheets, total supply volumes and export volumes. Over the study period, the farm-gate price of raw seaweed averaged 1,157 won per kilogram, with a peak of 4,591 won. The wholesale price of dried seaweed averaged 5,389 won per bundle of 100 sheets, while the retail price averaged 7,940 won. Average supply stood at 54.18 million bundles, with exports averaging 4.05 million bundles. A bundle is the standard trade unit of 100 dried seaweed sheets.

The data are summarized below.

The analysis found that the effect of export expansion was partly visible at the raw seaweed production stage, where increased demand could influence farm-gate prices. That effect was substantially cushioned through processing and retail, however. Even after exports began growing in earnest, there was no evidence of a widening consumer-price impact. The researchers noted that if the export share were to rise significantly beyond current levels, price dynamics could change.

The retail price of dried seaweed that consumers actually buy was shaped more by the domestic retail structure than by exports. The study found that wholesale prices feed through to retail prices in a statistically significant way over both the short and long term — meaning consumer prices are formed through wholesale price movements and retail-stage price adjustments rather than through export growth.

The researchers also identified an "asymmetric price transmission" effect, in which retail prices do not move by the same margin when wholesale prices rise or fall. The size and timing of wholesale price shocks produce different retail price responses, further confirming that consumer prices are driven more by the domestic retail structure than by international demand.

Actual price data from the Ministry of Oceans and Fisheries broadly matched those findings. According to the ministry's "Seaweed Export Supply Chain Innovation Plan" released in June, the domestic price of dried seaweed was 5,874 won per bundle in 2023, 10,375 won in 2024 and 9,920 won in 2025. Export prices for dried seaweed over the same period were 5,924 won, 9,600 won and 10,165 won per bundle, respectively — broadly in line with domestic prices.

The comparison is shown below.

Category | 2023 | 2024 | 2025 Domestic dried seaweed price (won/bundle) | 5,874 | 10,375 | 9,920 Dried seaweed export price (won/bundle) | 5,924 | 9,600 | 10,165 Seasoned seaweed export price (won/bundle) | 18,194 | 22,207 | 24,080 Dried seaweed export price vs. domestic | 1.01x | 0.93x | 1.02x Seasoned seaweed export price vs. domestic | 3.10x | 2.14x | 2.43x

Seasoned seaweed, by contrast, commanded export prices of 18,194 won, 22,207 won and 24,080 won per bundle over the same three years — between 2.14 and 3.10 times the domestic dried seaweed price. The data confirm that processed, seasoned seaweed fetches far higher export prices than unprocessed dried sheets.

The researchers concluded that expanding exports and keeping domestic prices stable are not necessarily in conflict. Rather than restricting exports, they recommended broadening the production base and improving retail efficiency to achieve both export competitiveness and domestic price stability.

"Evidence that seaweed export expansion is exerting sustained upward pressure on domestic prices — particularly consumer prices — appears limited," Han Ki-wook, head of the Korea Maritime Institute's overseas market analysis center, said in the report. "The export effect was partly observed at the raw seaweed stage, but the overall structure showed that it was largely buffered as the product moved through processing and retail."

adastra@heraldcorp.com