[Prices at a glance] Potatoes are expected to hold steady due to increased imports and sluggish consumption in South Korea

Published 2024년 10월 4일

Tridge summary

Potato prices in Seoul have increased slightly compared to the previous year, with 'Sumi' potatoes traded at an average of 36,001 won per 20kg box, a 5.4% increase from the same period last year. Despite this, experts predict a weak trend due to an increase in market supply and slow consumption. The Korea Rural Economic Institute expects an 8.2% and 1.4% increase in shipments of field spring potatoes and highland potatoes, respectively, compared to the same period last year. However, demand for food ingredients, including potatoes, has decreased due to the economic recession.

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

Original content

Potato prices are showing a slightly higher trend than last year. On the 2nd, at Garak Market in Seoul, ‘Sumi’ potatoes were traded at an average of 36,001 won per 20kg box. This is 5.4% higher than the average in October of the previous year (29,033 won) and 3.7% higher than the average in October of the previous year (29,498 won). Potato prices were weak until September, but rose slightly as we entered this month. However, experts say that they will show a weak trend due to an increase in market supply and sluggish consumption. In its recent ‘October Potato Observation,’ the Korea Rural Economic Institute forecasted that shipments of field spring potatoes and highland potatoes would increase by 8.2% and 1.4%, respectively, compared to the same period last year, and that ...

Source: Nongmin