2023-10-16 13:38:00
Customers are examining beef in the meat section of a large supermarket in Seoul. /News 1
In a situation where high inflation continues, there is a welcome prediction that domestic Australian beef prices will fall significantly from the end of this year. Previously, the price of king crab, which is considered a high-end food ingredient, has fallen significantly due to the increase in volume due to the war between Russia and Ukraine.
According to the Meat and Livestock Association of Australia (MLA) on the 16th, beef prices in Australia have plummeted by regarding 60% this year alone.
This is because forest fires occur frequently in Australia, which has become drier due to the El Niño phenomenon, causing a shortage of grass for cattle to eat, so livestock farmers have increased the amount of slaughter.
Dry weather is expected to continue in Australia due to the El Nino phenomenon until the end of February next year.
However, domestic Australian beef prices do not fall immediately. This is because the inventory held by importers must be exhausted first.
Considering inventory depletion and import procedures, the domestic Australian beef price cut is expected to be reflected from the end of this year.
Meanwhile, last week, the price of king crab fell to 70,000 won per kg for the first time in four years, giving joy to consumers.
After the war between Russia and Ukraine, the United States and Europe banned the import of Russian seafood, and Russia began exporting king crab to Asian countries at low prices. However, in the case of seafood, the price fluctuation range is large, so it is unknown whether the current downward trend will continue.
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