'Gold-priced' Green Onion Shocks Consumers... 'Patech' Trend Sweeping Among Shoppers

According to data from the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 28th of last month, the average consumer price of 1Kg of green onions at large supermarkets and traditional markets nationwide reached 7,232 KRW, marking an all-time high. [Image source=Yonhap News]

[Asia Economy Reporter Choi Eun-young] Recently, as the price of green onions has surged, new terms like 'Daepa Coin (Daepa + Bitcoin)' have emerged, sparking a craze among consumers for growing green onions at home, known as 'Patech (Pa + Investment Technology)'.

According to the Bank of Korea on the 24th, the Producer Price Index for February was 105.85 (2015 base 100), up 0.8% from January's 105.05. In particular, agricultural product prices rose by 5.1%, and the producer price increase rate for green onions compared to the previous month was 42.4%. Compared to a year ago, this represents a 341.8% increase.

This year, green onion prices have skyrocketed. This is due to a sharp decline in winter green onion production caused by poor growth and cold damage. Surprised by the high green onion prices, consumers have started a 'Patech' craze, growing green onions at home themselves.

In fact, as of the 27th, posts about 'Patech certification' and 'growing green onions' were easily found across various online communities.

The increase in time spent at home due to the COVID-19 pandemic has also contributed to the popularity of 'Patech', as growing 'companion plants' has become trendy.

Green onions can be easily cultivated at home with just a pot and potting soil without incurring high costs, and they grow rapidly when placed by a window for a week, which is another advantage.

Due to the recent surge in green onion prices, a 'Patech' craze, where consumers grow their own green onions, is spreading.
/Photo by Social Networking Service (SNS) capture

Ms. Lee, a housewife in her 50s, said, "I was shocked when I saw the price of green onions at the supermarket recently. As more people grow green onions at home, detailed methods are available online, and I thought I could enjoy growing them during COVID-19, so I joined the 'Patech' trend."

With soaring green onion prices, new terms like 'Patech' and 'Daepa Coin' have emerged, and among consumers, there is even a joke that quickly growing a few roots in a pot or water is a short-term investment, while planting seeds or seedlings in a garden to grow a large amount is a long-term investment.

This content was produced with the assistance of AI translation services.