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South Korean vegetable prices already spiking after heavy rains

In South Korea, prices of agricultural goods are already surging due to damage inflicted on farms by torrential rain that hit the country recently. The wholesale price on 20 kilograms of radish on Thursday was 29,000 won ($22). That’s a 36.8 percent increase from a week ago. The wholesale price of squash rose 51.2 percent, cucumber 47.1 percent, green onion 20.2 percent, cabbage 11.2 percent and potato 4.1 percent. 

Due to the record-breaking rain, some 880 hectares of farmland was flooded or damaged by landslides.

“The government will be taking preemptive steps including assessing and restoring farms that are vulnerable,” said Vice Finance Minister Bang Ki-sun during a vice minister economic meeting held Friday. He added that other government steps will include pest control. 

Source: koreajoongangdaily.joins.com


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