Beef prices in South Korea, ahead of New Year's Eve, are still low

With the Lunar New Year holiday approaching, Korean beef prices are still at a low level, raising the concerns of Korean beef farmers who have been waiting for the stock. On the 5th, the national average wholesale price of Korean beef was 17,407 won per kg, down 12.8% from the same period last year. As the holiday draws near, the price of Hanwoo beef seems to fall further, and the national average wholesale price fell to the 16,000 won range on the 10th. Compared to last year, when the price of Korean beef declined slightly from the point two weeks before the Lunar New Year holiday, this year's Korean beef price is remarkably low. At the distribution site, consumption of grilled meat, which serves as a driver of Korean beef prices, was found to be sluggish. Demand for home consumption at hypermarkets and butchers, as well as at restaurants, is sluggish, and demand for gift sets for explanations is also weaker than last ...