Bad weather and the spread of highly pathogenic avian influenza (AI) increase agricultural and livestock prices in South Korea

Published 2021년 4월 2일

Tridge summary

South Korea has seen a significant increase in the prices of major agricultural and livestock products, with consumer prices for agricultural products rising by 19.2% last month from the previous year. This increase is due to bad weather conditions and the spread of avian influenza, leading to a decrease in crop production and an increase in livestock product prices. The Ministry of Agriculture and Food is planning to manage the supply and demand by controlling the shipment of contracts and promoting discount events for domestic eggs. Despite the increase in supply, the prices of beef and pork remain higher than the average due to increased demand. The Ministry plans to continue monitoring the situation and implementing measures to stabilize the supply and demand.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Reporter Go Eun-ji = The price of major agricultural and livestock products has risen significantly as the crop is sluggish due to bad weather and the spread of highly pathogenic avian influenza (AI) continued. According to the Ministry of Agriculture, Food and Rural Affairs and the National Statistical Office on the 2nd, consumer prices for agricultural products rose 19.2% last month from a year ago. In particular, the pot price soared 305.8%, showing the highest rate of increase in 27 years since 821.4% in April 1994. Livestock products increased by an average of 10.2%, with eggs (39.6%), domestic beef (11.5%), and pork (7.2%) showing a high rise. However, as the weather conditions improve in spring, crop conditions are restored, and winter cropping, which suffered from cold waves, is converted to spring cropping. By item, the production of Korean leeks is expected to be only 94,000 tons this year, which is 14.5% less than last year due to cold waves and ...
Source: Yna

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.