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Prices of farm imports fall 7.5 pct in Sept.

All Headlines 14:36 October 17, 2012

SEOUL, Oct. 17 (Yonhap) -- Import prices of farm products dropped on-year in September despite concerns their prices could spike due to extreme weather conditions in major growing lands over the past few months, the customs office said Wednesday.

The import price index for agricultural, livestock and fishery products stood at 112.5 last month, down 7.5 percent from the same time a year earlier, according to the Korea Customs Service. The index also fell 1.4 percent from August.

Imported agricultural products saw their prices drop 8.6 percent last month from a year earlier, while livestock and fishery products also posted 3.8 percent and 10.8 percent declines, the office said.

Concerns are growing that abnormal weather conditions in the summer devastated major farmlands in the world, which will shrink harvests and eventually send prices of key grains and farm products soaring.

South Korea sees its consumer prices stabilizing in recent months but the government still remains worried about "agflation," inflation sparked by price hikes in farm products on the international market.


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