Trade4go Summary
The article discusses the anticipated broiler chicken price trends in Korea during the summer, particularly in July, when the Paris Olympics will be held. The Agricultural Observation Center of the Korea Rural Economic Institute forecasts a significant decrease in raw chicken prices in July compared to the previous year, with the distribution price expected to range from 1,600 to 1,800 won per kg, a 24.4-32.8% drop. This decrease is attributed to an increase in broiler supply, with predictions of 69.56 to 70.97 million animals slaughtered in July, a 4.4% increase from the same month last year. Despite the expected rise in demand due to the Olympics, the Korea Agricultural Research Institute believes prices will remain lower than last year because of this increased supply.
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Original content
As a series of special events are scheduled, including the 33rd Paris Olympics (July 26 to August 11, local time), following the first and second (25th) of this month, interest is focused on trends in broiler prices in the summer. According to the ‘July Broiler Chicken Observation’ recently released by the Agricultural Observation Center of the Korea Rural Economic Institute, the distribution price of raw chicken (production price) in July is expected to be 1,600 to 1,800 won per kg. It is 24.4-32.8% lower compared to July of last year (2,382 won). It is common for broiler prices to rise in the summer as demand increases. Moreover, with the Paris Olympics scheduled to be held this year, demand for chicken is expected to increase. However, the Korea Agricultural Research Institute predicted that as broiler supply increases this year, prices are likely to remain lower than last year. According to the Korea Agricultural Research Institute, the expected number of slaughtered animals ...