Frozen Whole Chicken Prices in South Korea Drop 5.52% YoY in Nov-23 Amid Heightened Imports and Subdued Consumption

The wholesale price of frozen whole chicken (Korean native chicken) in South Korea averaged USD 3.65/kg in W48, a 5.52% YoY decline. This persistent price decrease is attributed to increased chicken meat supply through imports, coinciding with a reduction in consumption fueled by high interest rates and inflation. Forecasts suggest that chicken prices in South Korea will continue their downward trend until the end of 2023.