South Korea: Concerns about falling leek prices due to excess shipments

Published 2021년 5월 21일

Tridge summary

The article highlights a notable increase in the cultivation area for highland green onions and winter leeks, with a 11.7% rise from the previous year to 1,121 ha. This growth is attributed to the high market prices of green onions in the past, especially in Cheorwon, Hongcheon, Gangneung, and Pyeongchang regions. As of May 6th, the majority of the highland green onions have been harvested. Furthermore, the cultivation area for winter leeks is projected to reach 3,300 ha, marking a 10.5% increase from the previous year. While these increases are cause for optimism, they also raise concerns about potential oversupply and a subsequent drop in prices for both highland green onions and winter green onions, potentially leading to a repeat of the 2014 price low. Currently, green onion prices are more than twice as high as last year, but there are fears that they may fall as the market adjusts to the increased cultivation areas.

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

Original content

KREI, Trends and Prospects of Cultivation (Intention) for Highlands and Winter Green onions It was found that the formal (intentional) area of the highland green onions has increased significantly. This is due to the rapid increase in the area of cultivation (intention) of winter leeks as the expectations of farmers who experienced strong green onion prices during the previous crop period played a great role. According to the “Trends and Prospects of Cultivation (Intention) for Highlands and Winter Green onions,” recently announced by the Agricultural Observation Headquarters, the area for cultivation (intention) of high altitude green onions increased by 11.7% from the previous year to 1,121 ha. This is an increase of 32.4% compared to the normal year (847ha), and by region, Gangneung 14.9%, Cheorwon 15.0%, Pyeongchang 9.9%, and Hongcheon 13.3%. As of May 6th, most of the formalities of the high-altitude green onions were found to have been completed. As of the end of April, more ...

Source: Kawa