South Korea: Chinese cabbage wholesale price increased by 160.7% in one month

Published Aug 13, 2023

Tridge summary

Agricultural product prices in South Korea have seen a significant increase due to the ongoing heat wave and crop damages caused by Typhoon Kanun. The wholesale prices of cabbage, radish, green onions, and spinach have all surged by double-digit percentages compared to the previous month and year. Moreover, there are concerns that prices may rise further as the production of apples and pears is expected to decrease by 20% compared to last year due to abnormal temperatures in spring and increasing demand during the upcoming Chuseok holiday season.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Correspondent Shin Seon-mi = Following the rainy season last month, the heat wave at the beginning of this month continues, and agricultural product prices are showing a strong trend. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) agricultural product distribution information on the 13th, the wholesale price of cabbage (product) on the 11th was 25,760 won per 10 kg, up 160.7% from 9,880 won a month ago. Compared to 19,096 won a year ago, it is 34.9% more expensive. The wholesale price of radish was 29,320 won per 20 kg, up 127.3% from 12,900 won a month ago and 6.1% higher than 27,628 won a year ago. The wholesale price of green onions is 3,250 won per kg, up 56.6% from 2,076 won a month ago and 4.3% higher than 3,116 won a year ago. The wholesale price of spinach is 59,500 won per 4kg, up 51.7% from a month ago (39,228 won) and 14.6% higher than a year ago (51,916 won). In the midst of this, there are concerns that agricultural product ...
Source: Yna

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