There's Been A Dramatic Rise In Squid Prices In South Korea — And It's All China's Fault


Photo: flickr: anjuli_ayer

Christian Oliver and Song Jung-a over at the FT have taken a look at what is be a fascinating aspect of this week’s South Korean elections — the price of squid.Rising food costs are becoming an election battlefield, the pair report, with prices rising between 20 and 30 per cent in the last year. Squid has risen even more.

The problem, fishmongers and fisherman say, is increased competition from the Chinese.

“Off the Russian coast, there are more and more Chinese competing for squid. In the past, we would need 50 days out at sea, now we need 70,” one fisherman explains.

And these price changes are squeezing the lower classes of South Korean society, once completely loyal to President Lee Myung-bak’s conservative government — but now looking closely at the leftwing opposition Democratic United party (DUP), who are promising a better welfare system.

The DUP are widely tipped to win this Wednesday’s general election, the AFP reports, though they admit the race will be tight. A presidential election will be held later in the year.

Read more at the FT >

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