Unusually hot weather hit South Korea this summer, subsequently reducing the supply of napa cabbages and leading to a significant increase in the vegetable's price at retail stores.
Prices of napa cabbage, a Korean staple and key vegetable for making kimchi, rose 63.7 percent month-on-month to a record 5,303 won ($4.73) a head, the Korea Consumer Agency (KCA) said Monday 18 September. The price of 1.5 kilograms (3.3 pounds) of white radishes rose 29.2 percent to 2,279 won and 1.5 kilograms of onions rose 5.3 percent to 3,217 won.
“We don’t know the exact reason for the rise in some vegetable prices, but we believe that the supply in general dropped due to the high temperatures and drought,” said KCA researcher Kim Eun-ji.
Additionally, a recent report by the Bank of Korea attributed the long-term rise in cabbage prices to Chinese imports of kimchi.
The KCA analysed the price of 402 major products in 373 stores across the country, and the agency found that the price varied by types of stores.
In fact, the average price of napa cabbage sold at corporate-run retail stores was the highest, at 6,965 won, and was lowest at large discount chains, at 3,702 won.
Onion prices had a 77.2 percent gap by store type, KCA said. The price of 1.5 kilograms of onions was 2,429 won at traditional markets and 4,303 won at department stores.
Beef, napa cabbages, radishes and onions were some of the products that were cheaper at large discount stores and traditional markets in July.
Meanwhile, the year-on-year growth rate for napa cabbage was 84.5 percent, the highest among major products sold in retail stores and traditional markets. It was followed by beef (25.5 percent) and radishes (15.6 percent). On the other hand onion prices dropped 13.2 percent during the same period.
Source: koreajoongangdaily.joins.com
