The Ministry of Agriculture, Food and Rural Affairs (MAFRA), led by Minister Song Miryung, released an analysis of the February 2026 Consumer Price Index. The report highlights that the consumer price index for agricultural and livestock products increased by 1.4% year-on-year, which is lower than the overall inflation rate of 2.0%. This outcome reflects the ministry’s ongoing efforts to stabilize food prices through supply management and targeted interventions. The analysis was based on data from the National Data Agency and aims to inform both domestic and international stakeholders about current price trends and policy responses.
Consumers, farmers, and food industry stakeholders are directly impacted by these price changes and government actions. Most agricultural products, except rice and apples, saw price declines compared to the previous year, with open-field vegetables like cabbage, radish, carrot, and lettuce benefiting from increased cultivation areas and stable supply. Livestock products, however, experienced a 6.0% price increase due to reduced production and outbreaks of animal diseases. The government is supplying 150,000 tons of government rice and managing apple distribution through contract farming and designated shipments to stabilize prices. Import fruit prices, such as bananas, pineapples, and mangoes, have risen due to poor harvests and high exchange rates, prompting the application of a 5% quota tariff from February 12 to mitigate consumer costs.
Implementation of these measures began in February 2026 and will continue throughout the year. The government is actively monitoring supply and price trends, adjusting interventions as needed. For products with increased storage, such as onions, consumer promotion and discount support are being used to boost demand. Major bakery chains like Paris Baguette and Tous Les Jours have reduced product prices in March 2026 to reflect lower raw material costs. The ministry plans to maintain stable distribution of key products until the new harvest in July and will continue to support raw material purchases for food manufacturers.
Frequently asked questions include: Why did livestock prices increase? Livestock prices rose due to reduced production and disease outbreaks, such as African swine fever and avian influenza. What actions are being taken for imported fruits? The government applied a 5% quota tariff to bananas, pineapples, and mangoes from February 12, replacing previous rates of 12–30%, and is monitoring distribution to ensure tariff benefits reach consumers. Additionally, discount programs for pork and eggs are in place to ease consumer burdens, and the ministry is working with industry partners to ensure raw material price reductions are reflected in processed food prices.
Metaqsol opinion: The Ministry’s approach to food price stabilization is grounded in real-time monitoring and responsive interventions. By supplying government rice, managing apple distribution, and reducing tariffs on imported fruits, the government is actively addressing both domestic and international price pressures. The collaboration with bakery chains to lower product prices and the use of discount programs for pork and eggs further demonstrate a consumer-focused strategy. These measures, based strictly on the facts provided, are likely to maintain price stability and support consumer welfare in 2026.