Hanwoo Beef Prices in Korea Fall to a Multi-year Low on Oversupply and Easing Demand

After trading flat at KRW 12,004/kg since December, Hanwoo beef (Grade 2B) wholesale prices in Gyeonggi, South Korea, fell in March 20 by 9.4% week-over-week and 27% year-over-year to their lowest level since at least three years, at KRW 10,875/kg, as a result of an increasing supply and easing demand.