July 5, 2005

South Korea's chicken and cattle numbers on the rise from soaring prices

The number of poultry in South Korea is on the rise amid soaring prices and restricted imports. The country had 149.3 million chickens as of June, up 36.2 percent from March, the highest since the government started tracking chicken numbers in 1977, according to the quarterly livestock inventory taken by the Ministry of Agriculture and Forestry.

The increase was due to the steady increase in prices, which rebounded to 1,916 won (US$1.85) per kg of poultry in April after falling to 665 won in January 2004 during reports of bird flu. The US resumption of South Korean chicken imports in June is also spurring local farmers to raise more.

The number of cattle in South Korea meanwhile stands at 75 million head as of June, up 6.2 percent from three months earlier and the highest since the 1.8 million head in June 2000.

The gain came from a growing demand for beef, and also the rise of pork prices, the ministry said. In comparison, the country had 8.78 million pigs as of June, down 0.6 percent from March and 2.6 percent from a year ago.

The dip is expected to keep pork prices high during the near future. In May, the price of pork hit a record 269,000 won per 100 kg, up 6.7 percent from a year earlier. The drop follows a new law that reinforces various environmental standards for the disposal of waste from pig farms, the ministry said.