Agricultural and Livestock Product Consumer Prices Down 1.4%... "Stable Outlook"

Government Implements Supply Stability Measures Including Stockpile Securing and Growth Inspection Strengthening to Prepare for Summer Weather Deterioration

The Ministry of Agriculture, Food and Rural Affairs announced on the 4th that the consumer price of agricultural and livestock products in May fell by 1.4% compared to the same month last year, maintaining a stable trend.

The ministry forecasted that supply conditions will improve overall after June due to increased production areas and volumes of vegetables, as well as recovery in livestock productivity, maintaining stability.

The consumer price index in May rose by 3.3% compared to the same month last year. Agricultural and livestock products increased by 0.5% compared to the previous month but decreased by 1.4% compared to the same month last year.

Compared to the same month last year, prices of chicken (14.8%), onions (33.5%), green onions (20.8%), red pepper powder (7.8%), and green chili peppers (20.1%) increased. Prices of pork (-8.3%), domestic beef (-6.4%), imported beef (-8.0%), grapes (-13.5%), rice (-4.3%), pears (-22.2%), and eggs (-3.6%) decreased.

Kim Jeong-hee, Director of the Food Policy Bureau at the Ministry of Agriculture, Food and Rural Affairs, said, "While agricultural and livestock product prices generally show a stable trend, some items such as onions and chicken have high prices due to reduced production. Supply and demand may become unstable, especially for open-field vegetables, due to adverse weather conditions such as summer heatwaves and heavy rains." She added, "The ministry is monitoring supply and demand situations for each item daily and is preparing proactive supply stabilization measures such as securing stockpiles and strengthening growth inspections in preparation for adverse summer weather. We will also continue to support discounts to alleviate consumer burdens and do our best to stabilize the supply and prices of agricultural and livestock products."

On the 22nd, customers are shopping at Yangjae Hanaro Mart in Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

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