SEOUL, Dec. 26 (Korea Bizwire) — Cheaper meat prices suggest that the livestock industry is no longer enjoying the benefit of end-of-year parties and celebrations that used to involve grilled meat dining.
The Korea Meat Trade Association reported that the wholesale price of pork per kilogram dropped by 12.7 percent, from 3,771 won (US$3.25) in the second week of December to 3,149 won by the third week.
Average wholesale prices have dropped over two weeks in a row, decreasing by 14.9 percent since the first week of December (4,032 won).
Experts argue that the introduction of anti-bribing legislation and the expansion of the 52-hour workweek policy have changed the culture of end-of-year parties, and consumers are still afraid of the recent epidemic of African Swine Fever that swept across the country.
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