Despite Good Crop Conditions Compared to Average, Perilla Leaves Face Downward Trend Due to Consumption Slump: Likely to Remain Weak in Short Term

After the Golden Week in early May, the wholesale price of perilla leaves is expected to remain relatively stable until the rainy season due to favorable crop conditions and consumption stagnation. As of May 26, the average price of perilla leaves (100 bunches, top grade) at the Garak-dong Agricultural and Fisheries Wholesale Market was 16,750 won, which is about half the price compared to 34,450 won on May 6. The wholesale price of perilla leaves rose from 15,892 won on April 25 to over 30,000 won on May 6, and then steadily declined, recording 16,064 won as of May 21. The price rebound during the early May holiday period followed by a decline in the mid-month is a pattern that repeats annually. This year, the wholesale price increased due to concentrated demand from dining and retail events during the relatively long holiday period, but the deepening consumption stagnation ahead of the presidential election pulled the wholesale price back down. Notably, the wholesale price of ...