In the first half of the year, South Korea's agricultural, forestry, livestock, and aquatic products as well as food prices experienced a double-digit increase.

Consumer price statistics released by the South Korean National Data Agency on July 9th show that in the first half of this year, the price of yellowtail fish increased by 16.9% compared to the same period last year, ranking among the top increases in major agricultural and livestock products. Analysis suggests that the increase in international oil prices has raised fuel costs for South Korean fishing boats. As a result, some fishing boats have reduced their outings or suspended operations, leading to a decrease in domestic yellowtail fish supply and a subsequent price hike. At the same time, prices of rice, ginseng, and potatoes increased by 15.1%, 14.6%, and 10.5% respectively compared to last year. The price of imported mangoes rose by 13.1%, mainly due to a decrease in production caused by abnormal weather conditions, coupled with the depreciation of the South Korean won, which increased import costs. However, the prices of some vegetables have significantly decreased, with carrots, cabbage, daikon radish, garlic chives, pears, onions, and cabbage prices dropping by 37.8%, 35%, 33.7%, 21.4%, 20.9%, 19.8%, and 18.5% respectively. High oil prices and exchange rates have not only raised agricultural product prices, but also driven up prices of processed foods and dining. Among processed foods, the price of dried cod fish increased by 15.1% compared to last year, ranking first in terms of increase; prices of Korean-style chili sauce, pickled seafood products, and pickled radishes rose by 12.1%, 10.5%, and 10.4% respectively, with increases in soybean paste and soy sauce also exceeding 8%. Industry analysis suggests that rising prices of imported raw materials, increased energy costs, and rising costs of plastic packaging are the main reasons for the price hikes in processed foods.