South Korea: Green onion prices likely to decline after next month while spring leeks should be shipped early

Published 2021년 4월 20일

Tridge summary

The price of green onions in South Korea has surged fourfold compared to last year, reaching high levels due to earlier than normal end of winter leek shipments caused by extreme weather conditions. However, with the start of spring onion shipments and increased cultivation area, prices are expected to stabilize by mid-next month. Despite a decrease in total imports by 20-30% in the Garak market compared to the previous year, fresh green onion imports have seen a significant sevenfold increase this month. The high price of green onions is a result of the early end of winter leek shipments, but concerns of price drops due to oversupply in June and July necessitate early shipments of spring onions.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The price of green onions, which is about four times higher than the average year and last year, is expected to decline after next month. According to the Korea Rural Economic Institute and the distributors of the Garak-dong Agricultural and Marine Products Wholesale Market, shipments to Sinan and Yeongwang, Jeollanam-do, due to heavy snowfall and cold seas in January, are being finished about three weeks earlier than normal. The shipment of winter leeks in Jeonnam region has been completed over 95% of Sinan and 90% of Yeongwang, and shipments of spring onions at facilities have started, but shipments are not large. As winter leek prices have been high, retailers and storage companies have adjusted their shipments, and the distribution industry officials say that the price of green onions is not falling more than expected. In the case of cabbage, it can only be stored for about 2 months in a low-temperature storage, but it is also said that leek can be stored for 10 months if the ...

Source: Aflnews