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Gov't to Release 400 Tons of Sea Salt Reserves to Counter Price Spikes

Written: 2023-06-29 09:37:55Updated: 2023-06-29 11:08:41

Gov't to Release 400 Tons of Sea Salt Reserves to Counter Price Spikes

Photo : KBS News

The Ministry of Oceans and Fisheries said on Wednesday that it will release sea salt reserves to stabilize spiking prices amid soaring demand.

The ministry said that it will release up to 400 tons of salt to major discount chain stores and traditional markets across the country from Thursday through July 11.

The released salt will be available at 25 branches of NH Nonghyup Hanaro Mart and some traditional markets across the nation, which will be identified on Friday.

The prices will be set about 20 percent lower than the consumer price for June, with about 50 tons released per day.

Oceans minister Cho Seung-hwan dismissed concerns about a possible supply shortage, saying that the sea salt supply in June and July is likely to reach 120-thousand tons, which exceeds the sales volume of average years.

Demand for sea salt has surged recently amid stockpiling by consumers and retailers over fears of a supply shortage due to the potential effects of Japan’s planned release of contaminated water from the crippled Fukushima nuclear power plant.

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