Korean beef prices need to be linked with hypermarkets

Compared to the rate of decline in Korean beef prices, the rate of decline in consumer prices is less than one-third, indicating that price interoperability with hypermarkets should be improved during a period of decline in Korean beef prices. The National Korean Beef Association's Korean Beef Policy Research Institute pointed out that solving the problem of linkage between wholesale and retail prices, in which the decline in wholesale prices of Korean beef is not well reflected in retail prices, is attracting attention as a major task for stimulating consumption. In fact, in the last week of last month, the wholesale price of Korean beef fell 27.2% compared to the same month last year, while the consumer price of first-grade sirloin fell only 8.5% during the same period. In particular, it was found that wholesale price increases were actively reflected in retail prices during price rises, whereas retail prices were passively reflected during price declines. The price of Korean ...