Significant decrease of broccoli production in Jeju, South Korea; price continues to rise

Published 2022년 3월 21일

Tridge summary

The price of domestic broccoli in South Korea has surged by 27.6% compared to last year, reaching 32,664 won for an 8 kg box at Garak Market in Seoul. This increase is primarily due to a decrease in imports, with the quantity imported in January and February being half that of the previous year, attributed to poor crop yield and typhoon damage. Additionally, the price of Chinese broccoli has also contributed to the rise in domestic broccoli prices, due to increased labor costs and sea freight rates. Predictions for the future price trend are mixed, with some forecasting a steady increase until broccoli shipments start in the Chungcheong region in May, while others anticipate a decline due to potential quality issues.

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

Original content

The price of domestic broccoli continues to rise. On the 18th, at Garak Market in Seoul, a box of 8 kg of domestic broccoli was traded for an average of 32,664 won. This is a slightly lower price than the previous day (34,485 won), but compared to last year (25,596 won), the price is 27.6% higher. Meanwhile, domestic broccoli prices have been consistently strong. The average price in January this year (based on 8 kg product) was 36,200 won, and the average price in February was 23,930 won, which was 60% and 21% higher than the average price of 22,640 won and 19,752 won, respectively. The reason why the price is so high is because the quantity imported has decreased. The amount of domestic broccoli imported from Garak Market in January was 532 tons, far less than 692 tons last year, and February (538 tons) was also only half the level of last year (817 tons). The main reason for the decrease in imports is poor crop yield. In Jeju, which is considered to be the main ...

Source: Nongmin