After more than a year of steadily rising prices, gim, crispy dried seaweed, has finally seen a slight decline in cost.
According to data released Tuesday by the Korea Agro-Fisheries & Food Trade Corporation, the average retail price for 10 sheets of dried gim stood at 1,400 won ($0.96) as of Feb. 28.
That marks a decrease of 27 won from the previous week and 76 won from the prior month.
Despite the drop, prices remain high — 25 percent above last year’s 1,119 won.
For 12 consecutive months, gim prices climbed, rising from 1,036 won in January 2024 to a peak of 1,470 won in January this year. The slight downturn last month, when prices fell to 1,438 won, marked the first decline in more than a year.
“The drop is linked to a fall in raw gim prices,” a Ministry of Oceans and Fisheries official said. “They fell in January.”
At the start of the year, favorable ocean temperatures and expanded farming areas led to a surge in raw seaweed production. However, processing factories struggled to handle the oversupply, causing prices to plummet, the official explained.
The excess was so severe that 6,000 tons of fresh seaweed were discarded at sea.
The official added that dried gim prices are likely to settle in the 1,300-won range soon, as they appear to be in a downward trend.
In February, prices hit 1,476 won early in the month before falling to 1,434 won mid-month and reaching 1,408 won by month’s end.
ssh@heraldcorp.com
