Prices of key agricultural, livestock, and fisheries products such as eggs, chicken, and mackerel have been on a steady rise recently.
According to Dabom, the livestock product distribution information of the Korea Institute for Animal Products Quality Evaluation, on the 21st, the nationwide average retail price for 10 extra-large eggs this month is 5,222 won, up 38.6% from 3,786 won in June last year and 16.7% from 4,476 won last month. This is the first time the monthly average consumer price for 10 extra-large eggs has exceeded 5,000 won.
The price for 10 extra-large eggs stayed in the 3,000-won range from March 2022 to April but rose quickly last month, surpassing 4,000 won. The average consumer price for 30 extra-large eggs this month is 7,465 won.
The nationwide average consumer price of broilers (chicken) this month also reached 6,650 won per kilogram, up 19.4% from 5,568 won in June last year. The consumer price per kilogram of broilers, which was in the 5,900-won range through February, rose to the 6,300-won range in March, then to 6,500 won in April and May, and crossed into the 6,600-won range this month.
A lack of supply is cited as the reason for rising egg and chicken prices. Supply fell due to the culling of laying hens caused by highly pathogenic avian influenza (HAPI) that occurred in the winter of last year and improvements to reduce the stocking density of laying hens. An early heat wave compared with previous years, which boosted demand for health foods, also fueled price increases.
According to the Korea Consumer Agency (KCA), the average price of one serving of samgyetang in Seoul surpassed 18,000 won in August last year, and from January to last month this year it was 18,154 won.
Some agricultural and fisheries product prices are also showing unstable trends. According to agricultural product distribution information from the Korea Agro-Fisheries & Food Trade Corporation (aT), this month's retail price per kilogram of green onions is 2,827 won, up 18.4% from 2,388 won in June last year. The nationwide average retail price per 100 grams of red leaf lettuce and green leaf lettuce, which were in the 800-won and 900-won ranges last month, came in at 1,023 won and 1,024 won, respectively, this month.
The average retail price of a whole watermelon this month is 24,292 won, up 8.9% from 22,309 won in June last year. The retail price per "son" (pair) of imported (salted) mackerel is 10,803 won this month, a sharp rise of 26.5% from 8,541 won in June last year.
In response, the government has moved to draw up supply measures. The Ministry of Agriculture, Food and Rural Affairs formed a "summer agricultural and livestock product supply and demand stabilization task force" on the 17th and held its first meeting, and the Ministry of Oceans and Fisheries decided to supply up to 8,000 tons of government-reserved fisheries products to the market from the 20th of last month to the 15th of next month.