A downward trend due to good agricultural crops... Livestock products increase significantly due to holiday demand

A downward trend due to good agricultural crops... Livestock products increase significantly due to holiday demand

(Seoul = Yonhap News) Reporter Han Joo-hong = The price of agricultural products last month fell 4.0% compared to the same month last year, but the price of livestock products rose 3.7%.

The Ministry of Agriculture, Food and Rural Affairs announced on the 2nd that this was the result of the September consumer price index survey released by the National Data Agency.

Agricultural prices fell as crops were generally good and the prices of most items remained low. However, the prices of some items, such as zucchini, temporarily increased.

The price of zucchini rose last August due to a decrease in shipments as growth was delayed due to heat waves and rainfall, but the price turned to a downward trend after Chuseok as weather conditions improved and shipments increased.

Autumn cabbage has been growing well so far, so supply during the kimchi season is expected to be stable. However, since the initial growth of radishes for kimchi is poor, the Ministry of Agriculture, Food and Rural Affairs plans to provide on-site technical guidance and pharmaceutical and nutritional support through the growth management council.

Livestock product prices have increased significantly compared to last August's increase of 1.5% due to increased demand during Chuseok.

Beef and pork prices remain high due to a decrease in the number of animals slaughtered and holiday demand. However, pork prices are expected to stabilize after October as slaughter volume is expected to increase in the second half of the year.

The prices of chicken and eggs are stabilizing as production volume exceeds the previous year's level. The Ministry of Agriculture, Food and Rural Affairs plans to induce price stability through discounts on beef, pork and eggs, and support for shipping incentives. In addition, we plan to strengthen communication with the industry so that the decline in broiler prices is reflected in chicken prices in the restaurant industry.

Food and restaurant prices rose 2.1% and 2.5%, respectively, compared to the same month last year. This is the cumulative effect of the burden of production costs due to raw materials, packaging materials, fuel costs, and rising exchange rates since the Middle East War.

The Ministry of Agriculture, Food and Rural Affairs plans to ease the burden on consumers through tax and funding support to reduce the burden of purchasing raw materials, industry communication, and expansion of discounts and promotional events.

An official from the Ministry of Agriculture, Food and Rural Affairs said, "We were able to ease the price burden of Chuseok holiday products by expanding the supply of holiday products and holding large-scale discount events. We will continue to monitor the supply and demand situation of agricultural and livestock products and take preemptive measures."