South Korea: Vegetable prices soar amid heat wave; cucumbers up 37% and Cheongyang peppers up 56%

Published 2024년 8월 11일

Tridge summary

South Korea is experiencing a heat wave that is causing vegetable prices to rise due to poor crop growth. The government is taking measures to prevent a sharp increase in prices and is strengthening agricultural product growth management. The prices of zucchini, cucumbers, turnips, cheongyang peppers, and paprika have already seen significant increases, with cabbage prices expected to rise further due to a temporary shortage. The Ministry of Agriculture, Food and Rural Affairs is advising farmers to enhance pest control and crop management practices.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Reporter Shin Seon-mi = Vegetable prices are rising amid the nationwide heat wave. As this kind of weather is expected to continue for the time being, voices are growing louder among consumers about 'heatflation' (heat + inflation), where prices are rising due to poor agricultural crops caused by the heat wave. Accordingly, the government is strengthening agricultural product growth management and supplying additional stockpiled agricultural products to the market to prevent a sharp rise in prices. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 11th, as of the 9th, the price of zucchini rose 9.6% in a week to 2,940 won per piece. It is 19.1% and 21.0% more expensive than the average price a year ago and last year, respectively. The average price is the three-year average from 2019 to last year, excluding the highest and lowest prices. The retail price of 10 tadagi cucumbers is 13,269 won, which is 36.9% higher than a year ago and ...
Source: Yna

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.