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Prices of Grain Imports Jump 47% over 2 Years, Hit Nearly 9-Year High

Written: 2022-03-16 08:39:44Updated: 2022-03-16 11:42:36

Prices of Grain Imports Jump 47% over 2 Years, Hit Nearly 9-Year High

Prices of grain imports jumped 47 percent in the past two years to hit the highest in almost nine years.

According to the Korea Customs Service on Wednesday, the country's grain imports came to one-point-96 million tons in February, or 758 million U.S. dollars.

Coming out to 386 dollars per ton, the price was a 26 percent increase from a year earlier.

Compared to February 2020 before the COVID-19 pandemic swept the world, it soared by 47-point-four percent from 262 dollars.

The prices of grain imports in February this year hit the highest since May 2013, when it marked 388 dollars per ton.

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