(Seoul=Yonhap News) = This summer's early heat wave has caused watermelon prices to surge daily, breaking the record for July by surpassing an average of 30,000 won for the first time.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 15th, the average retail price for a watermelon (top grade) that day was 30,065 won, breaking the 30,000 won mark.
This is a 40.9% increase from a year ago (21,336 won) and 43.0% higher than the average year.
Following the previous day's traditional market average of over 30,000 won, the current average price across traditional markets and large supermarkets has now exceeded 30,000 won.
Compared to the 4th (23,763 won), prices have risen by more than 6,000 won in 11 days.
This is the first time watermelon prices have exceeded 30,000 won in July on record.
Last year, due to summer heavy rains and heat waves, the monthly average watermelon price reached the 30,000 won range in August.
This year, with the early onset of heat, price increases for watermelons, cabbage, and other produce are happening faster than usual.
The distribution industry views the situation as caused by hot weather affecting crop growth, lowering watermelon sugar content and creating a shortage above standard quantities.
A fruit store owner in Seoul's Mapo district said, "Earlier this month, I was selling 8kg watermelons for 28,000-29,000 won, but now I'm selling them for 37,000 won."
He added, "9kg watermelons should fetch 40,000 won, but are currently selling for 39,000 won. The hot weather has prevented sugar content from rising, resulting in limited supply."
He further noted, "If it continues raining this week, prices could rise even more."
Increased demand due to hot weather and delayed harvests from reduced sunlight in May-June are also cited as price increase factors.
The Korean Rural Economic Research Institute predicts this month's watermelon supply will be similar to last year, but prices will rise due to temperature increases.