Food Prices on The Rise?

The Marmot’s Hole discusses the latest high food price scare and the high tariffs associated with foodstuffs.

Once again the newspaper is worrying about food prices. There is even a new welfare plan to help feed the needy. Yet once again they make no mention of the real reason Korean people pay dear for food.

I took this cause up about a year ago when the press labeled it with typical urgent flourish “Agflation”. A couple days later, days I after I suggest the same thing, the government announces cuts in tariffs.

So lets review the issue. As you can deduce from the links above the “bold” action was announced on March 6, 2008. Meanwhile the actual cuts in tariffs took place with no fanfare on July 30, 2008. Thats right the problem was so “urgent” that it took them five months to get off their chairs! Astounding responsiveness!

Read the rest.

Author Profile:  Founder of investingwon, sungwon is a PhD candidate in CS at KAIST and bassist of progressive metal band Dusk, among other things. Read more from this author