Price of 'Hanwoo' Hits Record High in Q4

SOUTH KOREA - Prices for a head of domestically raised beef cattle hit a record high in the fourth quarter of last year due to a surge in demand.
calendar icon 11 January 2010
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According to Korea Herald, the price for one of the Korean breed of cattle, known as "hanwoo," averaged 5.73 million won ($5,045) per 600-kilogram head as of November 2009, compared with 5.54 million won reported eight years ago.

The state-run agency said the price increase stemmed from a rise in demand for locally grown beef as the market share held by imported beef has fallen.

A total of 2.63 million head of hanwoo cattle were raised in Korea during the October-December period, down 0.2 per cent from three months earlier, due partly to seasonal factors, the report said.

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