1Major firms like Harim and Maniker raised chicken supply prices.
2They cited rising feed and labor costs as the main reasons for the hike.
3Concerns grow that supermarket and fried chicken prices will rise.
📖 Easy Explanation
🔍 Background
With inflation rising, chicken companies are struggling due to the continuous increase in essential feed prices and labor costs.
📌 Key Points
South Korea's largest chicken companies, Harim and Maniker, decided to raise supply prices to supermarkets, citing unavoidable raw material cost hikes.
💡 Why It Matters
Grocery shopping for chicken dishes will become more burdensome. Higher raw chicken prices may also lead to increased prices for popular delivery fried chicken.
🔮 What's Next
Supply price hikes usually reflect in supermarket retail prices within 1-2 weeks. Chicken prices are expected to remain high for a while.
📚 Glossary
공급가 (Gonggeupga)The wholesale price charged when supplying goods to supermarkets or retail stores.
원가 압박 (Wonga apbak)Cost pressure; a situation where rising production costs reduce profit margins.