February 2011 Korean pork prices increase 35% over previous year
Foot-and-mouth losses, inflation among reasons for hike
Statistics Korea is reporting that the wholesale price of pig meat showed an unprecedented increase of 35% year-on-year in February 2011, as farm losses due to foot-and-mouth disease added to the effects of food inflation.
By comparison, prices for fish and vegetables were 25% higher than in February 2010. Government advisers in Korea have warned that additional increases in household spending on food are likely as grains and other commodities become more expensive.