Green Onion Prices Soar to '3 Times Last Year'... Expected to Drop After Mid-Next Month

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Son Seonhee] The price of green onions, which had soared due to severe cold and adverse weather conditions, is expected to gradually stabilize around mid-next month as the spring green onion harvest season begins.

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 28th, the average retail price of 1kg of green onions was recorded at 6,403 won on the 26th. This is an 11.7% decrease compared to a month ago (7,255 won).

However, it is still 2 to 3 times more expensive than the average price (2,779 won) or last year (1,958 won). This is analyzed to be due to poor crop conditions and reduced cultivation area caused by last winter's cold wave and frequent snow. As green onion prices soared, 'home farming' or 'Patech'?growing green onions at home?also became popular.

The aT Agricultural Observation Headquarters forecasted that green onion prices will regain stability as the spring green onion harvest season begins next month. Since last month, weather conditions have been better than average, leading to a recovery in green onion crop conditions.

The spring green onion cultivation area is also expected to increase by about 7% compared to the previous year. By region, the volume of shipments from Wanju-gun, Jeonbuk is expected to increase by 10%, and greenhouse green onions in Gyeonggi and Chungcheong as well as open-field green onions in Gyeongsang-do are also expected to increase slightly. Buan-gun, Jeonbuk is expected to be similar to last year.

The timing of the spring green onion harvest is also expected to be earlier due to favorable weather. Shipments from Buan, Wanju in Jeonbuk, Busan, and Gimhae are expected to begin in earnest from mid-next month.

The Agricultural Observation Headquarters stated, "Next month's green onion prices will still be higher than last year or the average year, but due to the spring green onion harvest, prices are expected to decline compared to late this month."

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