SEOUL, March 16 (AJP) - Prices of livestock products are surging in South Korea as highly pathogenic avian influenza and African swine fever spread.
According to the Korea Institute for Animal Products Quality Evaluation, the average retail price for 10 extra-large eggs stood at 3,893 won as of the second week of this month, up more than 20 percent from a year earlier, putting the price of a single egg at nearly 400 won.
About 56 avian influenza cases have been reported so far this year during the winter season, far higher than the 49 cases reported a year earlier.
More than 9.8 million laying hens have been culled over the past six months due to highly contagious avian influenza, double the 4.83 million culled a year earlier and roughly four times the figure from two to three years ago, sending egg prices surging as production falls.
The Korea Rural Economic Institute said the massive culls have drastically reduced the number of laying hens, bringing the average daily production of eggs this month by 5.8 percent from a year ago to 47.54 million. The government has introduced measures to stabilize egg prices, including importing additional fresh eggs from the U.S., but these efforts have so far failed to curb the rising prices.
Prices of chicken meat are also climbing. Last week, the retail price for broilers averaged 6,235 won per kilogram, up 7.6 percent from a year earlier. Pork prices have also continued to rise as African swine fever spreads, with 22 cases reported so far this year, a record high.
The institute forecast average wholesale pork prices in the first half of this year to range between 5,500 and 5,700 won per kilogram, up 3.3 percent from a year ago.
Beef prices have also risen sharply. In the second week of this month, tenderloin and sirloin averaged 15,616 won and 12,296 won per 100 grams, up 14.0 and 17.4 percent respectively from a year ago, while brisket rose 20.5 percent to 7,118 won. The institute said higher prices are likely to persist for the time being, as fewer cattle are being raised.
According to the Korea Institute for Animal Products Quality Evaluation, the average retail price for 10 extra-large eggs stood at 3,893 won as of the second week of this month, up more than 20 percent from a year earlier, putting the price of a single egg at nearly 400 won.
About 56 avian influenza cases have been reported so far this year during the winter season, far higher than the 49 cases reported a year earlier.
More than 9.8 million laying hens have been culled over the past six months due to highly contagious avian influenza, double the 4.83 million culled a year earlier and roughly four times the figure from two to three years ago, sending egg prices surging as production falls.
The Korea Rural Economic Institute said the massive culls have drastically reduced the number of laying hens, bringing the average daily production of eggs this month by 5.8 percent from a year ago to 47.54 million. The government has introduced measures to stabilize egg prices, including importing additional fresh eggs from the U.S., but these efforts have so far failed to curb the rising prices.
Prices of chicken meat are also climbing. Last week, the retail price for broilers averaged 6,235 won per kilogram, up 7.6 percent from a year earlier. Pork prices have also continued to rise as African swine fever spreads, with 22 cases reported so far this year, a record high.
The institute forecast average wholesale pork prices in the first half of this year to range between 5,500 and 5,700 won per kilogram, up 3.3 percent from a year ago.
Beef prices have also risen sharply. In the second week of this month, tenderloin and sirloin averaged 15,616 won and 12,296 won per 100 grams, up 14.0 and 17.4 percent respectively from a year ago, while brisket rose 20.5 percent to 7,118 won. The institute said higher prices are likely to persist for the time being, as fewer cattle are being raised.
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