Dried pepper prices are strong... Soaring Chinese imports

There was an emergency in the pepper farmers as they showed signs of a significant increase in the import of peppers. According to the Korea Customs Service, the import volume of peppers from August 1st to 25th is estimated at 7380 tons. This is 6.7% more than the same period last year and 6% more than the same period of the ordinary year (6965t). Red pepper imports refer to the imported quantity of dried red pepper, frozen red pepper, red pepper powder, mixed seasoning (aka Dadaegi), etc., converted into dried red pepper. This increase in income is attributed to a sharp drop in yield due to a long rainy season and strong pepper prices. Last month, the average wholesale price per 600g of dried chili pepper was 11,779 won, up more than 80% compared to last year and normal. Last month, the average price of the production area was 13,840 won per Han Geun, which was 87% higher than the average year and 67% higher than last year. The problem is that the price of peppers is also strong ...