Korean Food Prices Among World's Highest

    March 16, 2007 09:37

    Koreans pay more for their beef than residents of any other country. A private organization called Consumers in Korea released on Thursday a survey of the prices of 20 major commodities conducted earlier this month by consumer groups in 29 countries. The results showed that the price of domestic and imported beef in Korea is the highest.

    According to the survey, one kilogram of domestic beef in Korea cost W55,800 (US$1=W945) and the same amount of imported beef cost W54,500. Russia had the second most expensive imported beef at W50,318 followed by the United Arab Emirates at W24,646 and Vietnam at W22,823 won. An official with Consumers in Korea said, "The price of Australian beef in Korea is twice as expensive than it is in Japan. The government should diversify the import origins and deal with high tariffs on beef."

    Prices of other food and commodities in Korea are also comparatively high. The consumer group said Korea ranked among the top five most expensive countries in eleven categories out of twenty. The price of rice per kilo was W2,700 won, the fourth highest after Japan at W3,708, Belgium at W3,529 and Brazil at W2,946.

    The price of one kilo of pork in Korea ranked seventh at W6,800 and the price of one liter of orange juice was at fifth with W2,180. The price of a piece of fried chicken ranked third at W1,900 and the average price of coffee was fourth at W2,800.

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