Livestock production costs in South Korea, Asia’s second-biggest buyer of grains, increased last year after feed prices rose, according to a government survey.
Pork production costs rose 22 percent to 302,000 won ($256) per 100 kilograms and that for beef climbed 9.9 percent to 5.69 million won per 600 kilograms, Statistics Korea said today in an e-mailed report that cited a survey of 1,400 livestock farms.
The average feed cost for pig farms rose about 14 percent last year, while that for cattle farms increased about 17 percent, the survey showed. Feed costs accounted for half the production cost for pork, it showed.
Soybean futures on the Chicago Board of Trade have gained 15 percent this year.
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