South Korea: Food prices rise as vegetable prices skyrocket

Published 2023년 3월 5일

Tridge summary

The prices of winter vegetables in South Korea have increased significantly due to cold weather, decreased sunlight, and increased heating costs. The retail price of zucchini has risen by 52% compared to last year, and the prices of other vegetables such as crickets, water parsley, carrots, and onions have also increased. The growing area of farmhouses has decreased due to labor shortages, leading to an unstable supply and demand. As a result, restaurants are using frozen vegetables or replacing them with less expensive ingredients. The food service industry is being hit hard by these price increases.

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

Original content

Mr. A, who runs a Haejangguk restaurant in Gangseo-gu, Seoul, is afraid of customers asking for refills of side dishes these days. This is because the prices of Cheongyang peppers, carrots, and onions have risen two to three times compared to last year. Mr. A said, “The price of Cheongyang pepper has risen 80% from the beginning of the year, but I am worried because there is no suitable vegetable to replace the spicy taste.” The price of winter vegetables continues to skyrocket, raising the price of meals. This is because crops have been sluggish due to cold waves and heavy snow, and the price of facility-grown crops has skyrocketed due to rising heating costs. According to the Korea Agro-Fisheries & Food Trade Corporation on the 5th, the retail price of one zucchini as of the 3rd was 2,801 won, up 52% from the same period last year (1,848 won). Prices of other vegetables, such as crickets (60%), water parsley (75%), carrots (75%) and onions (33%), also rose at the same time. ...

Source: Donga