COST DETECTIVE · Imported beef

World beef prices keep rising — how far did imported beef follow?

Following the money from raw material to shelf price over time, using published data.

Raw cost 2024→2025+15.7%
Retail 2024→2025+8.0%
WeightNo change recorded
vs global averageNo Hogu data

COMBINED INSIGHT

At a glance

Korea vs global average—
Cost increase pass-through (2024→2025)51%
Cost saving pass-throughNo such period
Weight change—

Each indicator stands alone; no combined score.

RAW VS RETAIL

Raw material vs retail price

Index with 2024 set to 100, comparing later changes.801001332023202420252026Beef, world price (New Zealand, US import basis) 2023: 82.6Beef, world price (New Zealand, US import basis) 2024: 100.0Beef, world price (New Zealand, US import basis) 2025: 115.7Beef, world price (New Zealand, US import basis) 2026: 132.7Imported beef CPI 2024: 100.0Imported beef CPI 2025: 108.0
Beef, world price (New Zealand, US import basis)Imported beef CPI
Index with 2024 = 100. It compares rates of change, not prices; gaps are periods without published data.
PeriodBeef, world price (New Zealand, US import basis)Imported beef CPI
202382.6n/a
2024100.0100.0
2025115.7108.0
2026132.7n/a

Beef, world price (New Zealand, US import basis) · International benchmark (World Bank) · Annual average; 2026 = Q2 average. A world benchmark, not Korea’s import price

PeriodOriginal (USD/kg)In KRW
20234.9—
20245.93—
20256.86—
20267.87—

KRW uses today’s live rate (1 USD ≈ … won, at view time) for reference; it is not the historical import cost.

Source: World Bank Commodities Price Data (Pink Sheet), August 2026

Imported beef CPI: Rebased to 2024=100 from the 2025 annual change (+8%, KOSTAT via press); other years not confirmed — 한국경제 — 2025년 연간 소비자물가 품목별 등락(통계청 발표 인용, 2026.1.1)

PASS-THROUGH

How much of the cost change reached the shelf

PeriodRawRetailSimple reference ratio
2024→2025+15.7%+8.0%Increase pass-through 51%

A simple ratio of retail change to raw change. Prices also carry labour, packaging, rent and logistics, so this is not a margin change.

Asymmetric price adjustment

Cost increase lagNot computed
Cost decrease lagNot computed

Only annual data is available, so day-level lags cannot be computed yet; they will be once monthly series are added.

PRICE WATERFALL

How the price stacks up

Import cost (origin, freight, tariff)Unknown
Import and wholesale distributionUnknown
Cutting and packingUnknown
RetailUnknown
Consumer priceUnknown

Only confirmed amounts are shown; undisclosed steps stay “Unknown” and are not estimated.

BENEFICIARY MAP

Who absorbed the difference?

Distributor
Importer purchase prices and FX timing not public
Unclear
Consumer
Imported beef CPI +8% in 2025
Paid more

Unless directly confirmed, parties stay “Unclear”. A gap between cost and retail moves does not establish who kept the difference.

CONSUMER EFFECT

What consumers gained and lost

Gained

  • None confirmed

Lost

  • Imported beef CPI +8% in 2025

TIMELINE

Cost and price timeline

  1. 2024World beef annual +21.0% (4.90 → 5.93 USD/kg) ↗
  2. 2025World beef annual +15.7% (5.93 → 6.86 USD/kg) ↗
  3. 2025Imported beef CPI +8% ↗
  4. 2026-Q2World beef 7.87 USD/kg — +14.7% vs 2025 average ↗

Read with care

  • The world benchmark is New Zealand beef landed in the US; Korea mainly imports US and Australian beef, so this is a directional reference, not Korea’s import cost.
  • FX, tariffs (phased FTA cuts) and freight move too, so world price changes do not pass straight through.
  • The Hogu Index beef item is grade-1 sirloin (domestic), a different product.

Reports and corrections

Tell us about price, weight or ingredient changes. Companies can request corrections with supporting evidence.

Sources

  1. World Bank Commodities Price Data (Pink Sheet), August 2026 · checked 2026-10-02
  2. 한국경제 — 2025년 연간 소비자물가 품목별 등락(통계청 발표 인용, 2026.1.1) · checked 2026-10-02

Last checked 2026-10-09. Raw series: Beef, world price (New Zealand, US import basis).

DETECTIVE RADAR

Imported beef from other angles

  • Origin DetectiveApplies · not analysed yet
  • Cost DetectiveThis page
  • Distribution DetectiveApplies · not analysed yet
  • Inflation DetectiveApplies · not analysed yet
  • Discount DetectiveApplies · not analysed yet
  • Value DetectiveApplies · not analysed yet
  • Hype DetectiveApplies · not analysed yet
  • Hogu IndexApplies · not analysed yet
  • Tax DetectiveApplies · not analysed yet
  • Wage DetectiveApplies · not analysed yet
  • Ingredient Detective (food & drinks)Applies · not analysed yet
  • Regulation DetectiveApplies · not analysed yet

✓ analysed · △ applies, not analysed yet · not applicable: Privacy Detective · All axes on one page