Contributing to Price Stability... Lotte Mart Begins Selling Jeju Island Radishes at Half Price

Sale of Government-Stocked Jeju Sangsaeng Radish from the 11th
Radish Production Decreases... Market Price Up 43.6% YoY

Lotte Mart and Supermarket join hands with the government to stabilize the price of radishes, a staple vegetable for the public.

On the 10th, Lotte Mart and Supermarket announced that, together with the Ministry of Agriculture, Food and Rural Affairs, they will offer 'Government Stockpiled Jeju Mutual Growth Radishes' at all stores from the 11th to the 14th.

A customer is examining radishes at Lotte Mart Seoul Station branch.
[Photo by Lotte Mart].

Recently, radish prices have been rising sharply. According to agricultural product distribution information (aTKAMIS), as of May 4, the wholesale price for top-grade radishes was 19,200 KRW per 20kg, a 43.6% increase compared to 13,368 KRW around the same time last year. It is also about 24.6% more expensive than one month ago. This is due to increased production costs such as agricultural material prices and labor costs, as well as a decrease in shipments caused by adverse weather conditions in Jeju, the main radish producing region.

In response, Lotte Mart and Supermarket, in collaboration with the Ministry of Agriculture, Food and Rural Affairs, have secured about 50 tons of stockpiled Jeju radishes and will sell them at 990 KRW each, approximately 50% cheaper than the market price, to ease the burden on consumers' grocery bills.

The government stockpiled Jeju mutual growth radishes being offered this time were harvested in March under the supervision of the Ministry of Agriculture, Food and Rural Affairs and stockpiled without separate sorting. Therefore, compared to the 'Special' grade products typically handled by Lotte Mart and Supermarket, these radishes may be slightly smaller or have minor surface blemishes, but there is no difference in taste or nutrition, and the price is lower. The Ministry of Agriculture, Food and Rural Affairs is conducting a project to purchase and stockpile domestic agricultural products, considering various factors such as crop conditions and weather, with the aim of stabilizing supply and prices.

Meanwhile, Lotte Mart and Supermarket have been offering various price stabilization promotional products. Representative products include 'Mutual Growth Fruits' and 'Mutual Growth Vegetables.' They operate B+ grade fruits and vegetables that slightly fall short of the usual inspection standards and sell them at about 30% cheaper than market prices. So far, they have operated about 30 types of mutual growth products, ranging from fruits such as chamoe, plums, and apples to vegetables like potatoes, onions, and napa cabbage.

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