South Korea: Heatwave causes vegetable prices to soar, concerns over cabbage kimchi crisis

Heatwave causes vegetable prices to soar… Concerns over ‘golden cabbage’ kimchi shortage [Anchor] Last month, the producer price index growth rate turned downward for the first time in 9 months due to a drop in industrial product prices. However, the price of a single head of cabbage has soared to 20,000 won ahead of the kimchi season, and the price increase for agricultural, forestry, and fishery products is unusual. Reporter Jang Han-byeol reports. [Reporter] The producer price index in August fell 0.1% from the previous month. This is the first negative growth rate in 9 months since November of last year. The impact of the price of industrial products, which have a high weighting, was particularly large. As international oil prices fell, the decline was mainly due to items with large declines, such as coal and petroleum products and primary metal products, which fell 0.8%. However, the situation is different for agricultural, forestry, and fishery products. It surged 5.3% ...