South Korea: Growing market demand for pork, meat price soars

Weekly wholesale price exceeds 5442 won per kg Increase in Family Month events and eating out Recently, while the number of pigs shipped has decreased, the market demand for pork has increased, leading to a sharp rise in carcass prices. Demand for pork is growing rapidly as the government lifts social distancing measures against COVID-19 and outdoor activities are expected to increase in May for Family Month. According to the Korea Meat Distribution and Export Association on the 25th, the price of grilled pork is expected to rise due to the purchase of large-scale mart events for Family Month and an increase in restaurant consumption, which has created new demand in restaurants and butchers. Among butchery meats, front leg meat showed strong growth due to increased food delivery and increased demand for grilled products. Most of the spare ribs are still being produced frozen, and among the by-products, pork ribs are showing a steady trend due to a backlog of frozen stock at the ...