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South Korea's Salt Panic Buying: Who is the World's Largest Producer?

Erlina Fury Santika 06/07/2023 20:20 WIB

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Panic buying of salt is occurring in South Korea. Who actually is the world's largest salt producer?

Estimated Salt Production Volume Based on the Top 10 Global Producers (2022)

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South Korea's Salt Panic Buying: Who is the World's Largest Producer?

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Estimated Salt Production Volume Based on the Top 10 Global Producers (2022)

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South Korea is experiencing panic buying of salt, with citizens excessively purchasing and hoarding it. This is in anticipation of Japan's plan to release radioactive wastewater from the Fukushima nuclear power plant into the ocean.

According to CNN Indonesia, Japan will release over one million metric tons of water used to cool the damaged reactors following the 2011 earthquake and tsunami, into the Pacific Ocean.

While Japan assures the wastewater is safe, the announcement has sparked concern and widespread opposition among South Koreans, particularly fishermen. They fear contamination of salt and seafood, leading to the hoarding.

This panic buying caused a 27% increase in salt prices in South Korea in June 2023. However, officials also attribute the price hike to weather conditions and low production.

The South Korean government is releasing approximately 50 metric tons of salt daily from its reserves, offering a 20% discount until July 11, 2023.

Meanwhile, who is the world's largest salt producer?

According to Statista, China is the leading producer of sea salt, with an estimated production volume of 64 million metric tons (mt) in 2022, a stable figure compared to 2021.

India is second, producing approximately 45 million mt in 2022, up from 42 million mt in 2021.

The United States is third, with an estimated production of 42 million mt. Statista notes this excludes production from Puerto Rico.

Significantly behind in fourth place is Germany, with an estimated 15 million mt of salt production. Australia is fifth, with a projected 13 million mt in 2022. The remaining producers are shown in the accompanying graph.

Statista highlights a major use for this vast salt production: "The largest use of salt is as a raw material for the production of industrial chemicals."

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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South Korea's Salt Panic Buying: Who is the World's Largest Producer?

South Korea's Salt Panic Buying: Who is the World's Largest Producer?

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South Korea's Salt Panic Buying: Who is the World's Largest Producer?

South Korea's Salt Panic Buying: Who is the World's Largest Producer?

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