The South Korean Beef Association, the government and the National Assembly should prepare special measures to stabilize the price of beef
Frozen Bone-In Beef
South Korea
Published Dec 7, 2022
Tridge summary
The National Korean Beef Association ordered the National Assembly and the government to actively prepare countermeasures to stabilize the crashing Korean beef price. At the end of last month, the Korean Beef Association released a statement titled, “The government and the National Assembly must come up with special measures to stabilize the price of Korean beef,” and demanded that the government and the National Assembly come up with countermeasures.
Original content
As of the 24th of last month, the price of the 1st grade meridian of Korean beef geese plummeted to around 15,000 won, a 28% drop from the same period last year and the lowest price since 2016. The Korean Beef Association emphasized that considering the current inflation rate, the situation is more serious than the level in 2013 when the cattle price surge occurred, and the production cost has increased by more than 60% from then, and the damage to farmhouses is increasing. In fact, the production cost of Hanwoo farms is 10.7 million won per cow, but the current wholesale price of first-class castrated cattle with a carcass weight of 450 kg is around 7 million won, leaving the farms with 3.7 million won in debt. The Korean Beef Association pointed out that the 100,000 tons of tariff-free imported beef imported by the government for the reason of price stability was the starting point for the crash in Korean beef prices, raising its voice that the rapidly imported beef has not yet ...
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.