South Korea: Cabbage price emergency during kimchi season; seasonal mackerel is also precious

Published 2024년 10월 20일

Tridge summary

Kimchi season is causing a surge in the prices of key vegetables like cabbage and radish, with cabbage prices soaring by 40% and radish prices by 47% compared to last year due to a long heat wave last summer and poor agricultural growth. The restaurant industry is facing supply and demand issues as a result. Additionally, the production of seasonal seafood such as mussels, oysters, squid, and clams has been affected, leading to a significant increase in the price of croaker by up to three times compared to last year. The government is planning to formulate comprehensive measures to address these issues through the Climate Change Response Task Force.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Cabbage prices skyrocket during kimchi season… Seasonal mackerel is also ‘precious’ [Anchor] Kimchi season is about two weeks away, but prices of kimchi vegetables such as cabbage and radish are still high. Due to the long heat wave last summer, not only agricultural products but also seasonal seafood production has plummeted. This is reporter Oh Ju-hyeon. [Reporter] The heat wave continued until last month, and due to poor agricultural growth, prices of major kimchi vegetables are staying high. According to the Korea Agro-Fisheries & Food Trade Corporation, as of the 18th, the retail price of one head of cabbage was 9,123 won. This is about 40% higher than last year. Another kimchi vegetable, radish, is 3,561 won per head, 47% more expensive than a year ago. The Ministry of Agriculture, Food and Rural Affairs recently forecasted that prices will fall soon as cabbage and radish shipments have increased, but it is still difficult for consumers to feel the effects. The restaurant ...
Source: Yonhapnewstv

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