Cabbage Prices Rise 70% in a Week... Will the 'Geumchi' Scenario Repeat?

Following the monsoon season, the heatwave has caused agricultural product prices to soar, triggering an emergency in food prices. Recently, the wholesale price of napa cabbage has risen by more than 70% in just one week.

Some have expressed concerns that last summer's 'kimchi shortage' phenomenon might be repeated.

[Photo by Yonhap News]

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) agricultural product distribution information on the 6th, as of the 4th, the wholesale price of napa cabbage was 20,240 KRW per 10 kg, a 74.9% increase compared to a week earlier (11,572 KRW). Compared to a month ago, it jumped 118.4%, and it is 2.8% higher than the same period last year.

In addition, the price of small napa cabbage, mainly used for fresh kimchi or wraps, is also soaring. On the same day, the wholesale price of small napa cabbage (8 kg) was 37,230 KRW, up 33.4% from a week earlier (27,900 KRW).

The rise in napa cabbage prices is attributed to a decrease in supply from production areas due to diseases such as soft rot affecting summer napa cabbage grown in open fields at high altitudes in Gangwon Province.

Summer napa cabbage is mainly cultivated in open fields at altitudes above 400 meters in Gangwon Province and is supplied to the market from mid-June to mid-October. If diseases spread further, poor crop yields could cause napa cabbage prices to rise even more.

Along with the increase in napa cabbage prices, the prices of kimchi ingredients such as radish, green onions, and onions have also risen, increasing the cost burden for those preparing kimchi.

The wholesale price of radish is 20,940 KRW per 20 kg, a 70.5% increase compared to a week earlier (10,729 KRW). It has risen 128.7% compared to a month ago and is 26.3% higher than a year ago.

The wholesale price of green onions is 3,084 KRW per 1 kg, up 23.6% from a week earlier and 56.7% compared to a month ago. It is 22.2% more expensive than a year ago.

The wholesale price of onions is 20,720 KRW per 15 kg, 11.9% higher than a month ago. It fell 2.0% compared to a week earlier and is 7.2% lower than a year ago.

The upcoming typhoons following the heatwave are also a concern. Last year, Typhoon Hinnamnor struck in early September, causing agricultural product prices, including napa cabbage, to skyrocket.

At that time, packaged kimchi sold out on online malls of major supermarkets and food companies such as Daesang and CJ CheilJedang.

Earlier, the government projected that the price increase would not be significant considering spring napa cabbage storage and government reserves, but announced plans to proactively stockpile supplies and arrange contract purchases to prepare for supply instability.

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