Vegetable production decreases while imports increase in South Korea
Fruits
Vegetables
South Korea
Market & Price Trends
Published Mar 8, 2024
Tridge summary
South Korea is experiencing a disruption in the supply and demand of agricultural products due to frequent rainfall in February. This has led to a surge in prices and an increase in imports. The Korea Rural Economic Research Institute predicts a slight increase in early-season onion production, but an overall decrease in yield. The price of green onions has significantly risen, causing a surge in imports. The storage of winter vegetables has been affected, causing supply instability. Additionally, the decrease in sunlight due to the rain has impacted the growth of fruits and vegetables, leading to a decrease in shipments and an increase in prices.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
‘Frequent rain in February’ is holding back the supply and demand of agricultural products. For many items, prices have soared due to a sharp decline in shipments, and as a result the import of foreign products has increased, the structure of falling prices appears to be becoming entrenched. The aftermath could last quite long and act as a detonator for the spring agricultural market. Some are even concerned that supply instability will be prolonged due to disruptions in harvesting and storage operations. The Korea Rural Economic Research Institute released the ‘March Agricultural Observation’ for seasoned vegetables and leaf root vegetables on the 4th and fruits and vegetables on the 5th. The Korea Agricultural Research Institute provides observational monthly reports from March to December every year. The March observation is the first prediction result of that year. However, in this year's first agricultural observation, unwelcome phrases were used on almost all products. This ...
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