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The price of chocolate grew annually for nine years in a row in 2016, a statistical agency said Tuesday, mainly on the back of an increase in expensive imported brands.
Chocolate prices fell for seven years straight from 2000 to 2006, according to Statistics Korea. However, chocolate prices increased 5.5 percent on-year in 2007 and hiked 23.4 percent on-year in 2008. Last year's on-year rise was 0.1 percent, compared with 4.6 percent in 2015 and 16.7 percent in 2014.
Industry experts attributed the rising prices to the steady increase in pricey chocolate imports.
The total amount of chocolate products imported from overseas jumped nearly 30 percent in four years in 2016, data showed.
South Korea imported a record-high $220 million worth of chocolates in 2016, up from $170 million tallied in 2012, according to the data from the Korea Customs Service. (Yonhap)
