SEJONG: Prices of imported farm products fell 9.6 percent on-month in July mainly due to a dip in international grain costs, government data showed Wednesday.
According to the data by the Korea Customs Service (KCS), the price index for imported farm produce stood at 97 last month, a drop from 107.3 tallied the month before and down 7.7 percent from a year earlier.
The service said the on-month fall was caused by lower overall prices for key staples, such as grain and beans. Wheat prices edged down 0.1 percent, while adzuki beans lost 3.8 percent Import prices of fruits, vegetables and nuts, on the other hand, all rose, with grape prices surging 40.8 percent compared with June.
The KCS said that the index for fishery products stood at 98.7, up 3.5 percent from 95.3 in June, and a gain of 3 percent from the year before. The index for imported meat prices also moved up 1.3 percent on-month to 144.8 from 142.9 in the previous month. The figure rose 2.3 percent from July 2014.
For all farm, meat and fisheries products, the import price index stood at 107.2, down 4.4 percent from the 112.2 reached the month before. The number represents a 2.4 percent contraction from the year before, according to the KCS data.
