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Food Import Prices Jump over 30% for Third Month in February

Written: 2022-04-04 08:56:03Updated: 2022-04-04 10:04:55

Food Import Prices Jump over 30% for Third Month in February

Photo : YONHAP News

The country's import prices of food products jumped over 30 percent for the third consecutive month in February.

According to the Korea Trade Statistics Promotion Institute on Monday, the price index of imported agricultural, livestock and fishery goods stood at 112-point-six in February, up 31-point-seven percent from a year earlier.

The index saw on-year increases of more than 30 percent for three straight months, increasing 33-point-five percent in December and 31-point-five percent in January.

Import prices of agricultural products gained 33-point-three percent on-year in February, while those of livestock and fishery products jumped 36-point-seven percent and 13-point-five percent, respectively.

The rises are expected to push up the local producer and consumer prices, imposing a growing burden on people's livelihoods.

Disruptions in global supply chains, rising global demand with the recovery from the COVID-19 pandemic and geopolitical risks are raising global food prices.

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