Limited Imports Spur Production of Poultry

SOUTH KOREA - More and more South Korean chicken farms are increasing production to benefit high consumer prices resulting from limited imports, while pork consumption is steadily decreasing, a government report said Monday.

According to the quarterly livestock inventory taken by the Ministry of Agriculture and Forestry, the number of poultry being raised in South Korean farms has hit a new high amid soaring prices and restricted imports, with many more cattle being raised as well.

The country had 149.3 million chickens as of June, up 36.2 percent from March and the highest since the government started tracking chicken in 1977.

The jump was attributed to the steady increase in prices, which rebounded to 1,916 won ($1.85) per kilogram of poultry in April after falling to 665 won in January 2004 after reports of the bird flu.

Prices have not been so profit-friendly since October 1994, when they stood at 2,129 won.

The U.S. resumption of S. Korean chicken in June is also spurring local farmers to raise more, the ministry said.

Source: TheKoreaTimes

4 July 2005