The steep rise is attributed to poor harvests caused by abnormally high sea temperatures. The average sea surface temperature from June to August reached 23.9 degrees Celsius, the highest in a decade, delaying the seeding process and reducing supply.
The state-run Korea Agro-Fisheries Trade Corp. reported that as of Oct. 2, the price of 10 sheets of dried seaweed, called gim, stood at 1,354 won (US$1), up 33.4 percent from last year and 49.3 percent higher than the average price.
Japan, the world's second-largest seaweed producer, has also experienced a significant drop in production, leading to increased imports from Korea. Seaweed exports to Japan from May to July rose by 33.1 percent year-on-year to 2,889,563 kilograms.
"Export demand has contributed to the price increase," said an official from the Ministry of Oceans and Fisheries. In response to the abnormal price surge, the government announced plans to establish a gim monitoring center to analyze global production and consumption trends.
