The average retail price of a head of Napa cabbage in Korea has surpassed 7,000 won ($5.04), more than 50 per cent higher than a month ago, as heat waves and heavy rains affected harvests. According to the Korea Agro-Fisheries & Food Trade Corporation, the average retail price reached 7,062 won ($5.04) on Monday, which is 9.3 per cent higher than the same period last year and 11 per cent above the seasonal average.
Prices rose from 6,871 won ($4.90) last Wednesday to 7,023 won ($5.00) the following day and have since stayed above 7,000 won. Compared with the previous month, the increase was 52 per cent, equal to nearly 2,500 won ($1.78) per head in one month. Cabbage typically becomes more expensive in August compared with July, but this year's increase is much sharper. Analysts cited abnormal weather, including prolonged heat waves and heavy rains.
An official from the Ministry of Agriculture, Food and Rural Affairs stated that crop yields were impacted but noted, "Shipments of highland cabbage from Gangwon are increasing from mid-August, and the government is also releasing reserve supplies to the market, so prices are expected to stabilize." Wholesale prices, which usually precede retail levels by two to three weeks, have already begun declining. As of Thursday, wholesale cabbage prices stood at 4,393 won ($3.13), down 23.6 per cent year-on-year and 5.7 per cent below the seasonal average. Agriculture Minister Song Mi-ryung confirmed at an August 7 briefing that reserves would be used to offset the weather impact. "Cabbage prices will remain higher than usual, but we can get through without major disruptions," she said.
Other produce prices displayed mixed movements. Radish averaged 2,588 won ($1.84), 18 per cent lower than last year. Green cabbage was at 4,526 won ($3.23), 3.3 per cent higher. Tomatoes reached 5,571 won ($3.99) per kilogram, up 11.1 per cent from a year earlier. Watermelon prices dropped to 29,910 won ($21.42) as the season winds down, 4.8 per cent cheaper than last year but still 9.8 per cent above the seasonal average. White peaches, sold in packs of 10, were priced at 22,685 won ($16.21), which is 26.3 per cent higher year-on-year and 10.9 per cent above the seasonal average.
Source: Korea JoongAng Daily