Last month, the consumer price index rose above 3% for the first time in two years and two months, with agricultural and livestock product prices increasing by 1.8% compared to the same month last year, driven by strong livestock prices. In response to potential supply shortages due to extreme heat and heavy rain, the government plans to activate a "Summer Agricultural and Livestock Supply Stabilization Task Force."
According to the National Statistical Office's "Consumer Price Trends for May 2026," while agricultural product prices fell by 0.8% year-on-year, livestock prices surged by 5.8%.
For agricultural products, prices of most vegetables, including cabbage, carrots, and onions, decreased, although prices for some items like rice and green onions rose.
Rice prices have remained stable at around 62,000 won for a 20-kilogram bag since the government's grain supply plan was announced in February. The Ministry of Agriculture, Food and Rural Affairs (MAFRA) is closely monitoring rice price trends and plans to manage consumer burdens by considering additional government grain supplies if necessary, alongside discount support and demand requests from distribution companies.
MAFRA anticipates that the price of green onions, which have recently increased due to delayed growth, will stabilize as shipments increase later this month.
The rise in livestock prices is attributed to a decrease in supply caused by the spread of livestock diseases such as avian influenza and African swine fever.
The number of cattle raised and the amount available for slaughter have decreased, while the price of imported beef remains relatively high due to reduced production in exporting countries like the United States and unfavorable exchange rates.
Pork prices have seen a slight increase due to heightened demand during the family month. Although supply is expected to increase in the second half of the year compared to last year, various factors could affect this outlook.
To alleviate consumer burdens, MAFRA is applying tariff quotas to pork processing materials to distribute demand for processed pork.
The increase in egg and chicken prices is analyzed to be due to reduced supply resulting from expanded culling due to livestock diseases and delayed weight gain. Production conditions for eggs are expected to gradually stabilize after July, and MAFRA plans to continue supplying imported fresh eggs and pursue additional imports until production levels recover.
The government is focusing on proactive measures to address potential supply disruptions in agricultural and livestock products during the summer. MAFRA has established a "Summer Agricultural and Livestock Supply Stabilization Task Force," led by Vice Minister Kim Jong-gu, to closely monitor growth trends and shipment conditions, aiming to stabilize the market through stockpile supplies in times of crisis.
Park Jeong-hoon, head of MAFRA's Food Policy Office, stated, "Summer is a time when extreme weather events are likely to occur. We will strengthen monitoring of supply conditions by item and mobilize all available resources to stabilize agricultural and livestock prices."
* This article has been translated by AI.
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