by PNA
Profitability among farmers in South Korea worsened in the second quarter as rising pesticide and fertilizer prices drove up the overall production costs, government data showed Monday.
The data by Statistics Korea showed that the so-called "farming household trade condition index" fell to 94.8 during the April-June period from 95.5 tallied in the previous quarter.
The index is calculated broadly by dividing farmhouses' sales by their expenditures and costs for equipment and materials. If the index falls below 100, a farming household spends more than what it earns from selling its products.
The index has been under the 100 mark for the past six years since it fell below the benchmark in the second quarter of 2007. It showed some signs of slightly improving recently, thanks to price hikes for some major farming products.
The index, however, worsened again in the second quarter partly due to higher pesticide and fertilizer prices, which drove up the overall production costs.
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Topic: Profitability among farmers in South Korea (Read 340 times)