Cabbage prices soar in South Korea due to the heatwave; 400 tons of reserves are released daily

A severe heat wave and heavy rainfall in Korea have led to a significant increase in cabbage prices, with retail prices rising by over 30% in just one month, reaching 5,515 won per head. In response to the price surge and concerns about market instability, the government has announced plans to release 400 tons of cabbage from its reserves daily starting mid-month to stabilize prices. The Korea Rural Economic Institute has also predicted a decrease in cabbage production this summer due to poor yields caused by adverse weather conditions and a reduction in cultivation area. In the long term, the government aims to address these issues by developing climate-resistant cabbage varieties and improving storage facilities.

Cabbage prices soar due to heat wave… “400 tons of reserves released every day” [Anchor] Agricultural product prices are also rising due to the scorching heat. Cabbage prices have risen by over 30% in a month. The government has decided to supply 400 tons of cabbage to the market daily starting mid-month to stabilize prices. Reporter Han Ji-i reports. [Reporter] Wangsan-myeon, Gangneung-si, the largest highland cabbage producing area in Korea. Green cabbages are ripening ahead of shipment at the end of this month. Although they are enduring the summer monsoon and heat wave, damage from diseases and pests such as rot is driving up cabbage prices. According to the Korea Agro-Fisheries & Food Trade Corporation, as of the 7th, the retail price of one head of cabbage was 5,515 won. This is over 30% higher than last month. The Korea Rural Economic Institute also forecasted that this summer’s cabbage production would decrease by 7.2% from last year to 339,600 tons. This is due to poor ...