Pork belly and egg prices are showing strength.
According to the Livestock Products Quality Assessment Institute's livestock distribution information on the 11th, the consumer price of domestic pork belly last month averaged 2,486 won per 100g, up 6.8% from the same month last year. This is 7.9% higher than the average price, excluding the maximum and minimum from 2020 to last year.
The price of pork shoulder, which is cheaper than pork belly, is 1,436 won per 100g, which is 5.9% and 19.4% higher than a year ago and the average price respectively.
This is due to the increase in demand for pork. As demand for some cuts increased, wholesale pork prices rose, leading to a general increase in consumer prices by cut.
The rise in the price of imported pork used as raw materials for processed products like ham and sausages has also influenced the increase in demand for domestic pork. The rise in prices of imported pork is due to the increase in prices of pork in producing regions such as the United States and the European Union (EU). In addition, the rise in the won/dollar exchange rate over the past few months has increased the import costs.
Last month, the price of imported pork belly (frozen) was 1,472 won per 100g, up 3.2% and 7.8% from a year ago and the average price, respectively.
Egg prices have also risen compared to a year ago. Last month, the consumer price for large eggs was 3,625 won for 10 eggs, which is at the average level, but is 10.5% higher than a year ago. Last year, government support led to discount promotions at large supermarkets, which lowered the consumer price of eggs.
In contrast, domestic beef prices have fallen due to high supply. By cut, sirloin grade 1+ is priced at 10,747 won per 100g, down 1.0% from a year ago and down 7.1% from the average. Brisket is 5,995 won per 100g, which is 7.2% higher than a year ago but down 8.7% from the average.
Domestic chicken is priced at 5,718 won per kilogram, down 3.1% and 2.1% from a year ago and the average, respectively.