Ministry of Agriculture, Food and Rural Affairs "Stable Cabbage Supply by Mid-Month... Early Shipment and Import Supply"
The government expects cabbage supply and demand to stabilize from mid-this month due to early autumn cabbage shipments and imported cabbage supply. The consumer price index for agricultural and livestock products is also forecasted to remain steadily stable.
On the 8th, the Ministry of Agriculture, Food and Rural Affairs announced plans to expand shipments until mid-October, when cabbage supply is insufficient, by promoting early autumn cabbage shipments and supplying imported cabbage.
Merchants at Garak Market in Songpa-gu, Seoul, are preparing imported Chinese napa cabbage. Photo by Jo Yongjun jun21@
View original imageAccording to the Ministry, the consumer price index for agricultural and livestock products rose 13.1% year-on-year in March but has shown a continuous downward trend, rising only 2.2% in September. The ministry expects a stable slowdown after October as prices for livestock products and fruits, which account for a large share of consumer spending, remain stable.
An official from the ministry said, "However, cabbage prices have been strong recently due to unprecedented heatwaves and other factors," adding, "We will implement supply stabilization measures without delay so that a downward trend can be felt by late October."
The cabbage currently being shipped is mid-highland cabbage grown in areas such as Pyeongchang and Hoengseong in Gangwon Province. After planting in early August, high temperatures persisted until mid-September, delaying heading (the phenomenon where leaves of vegetables like cabbage overlap in multiple layers to form a round core), resulting in poor growth and reduced production. Although supply has been gradually increasing recently due to recovery trends, supply may still be somewhat insufficient until mid-October before the full-scale shipment of autumn cabbage. Therefore, the ministry is encouraging early shipments of quantities to be shipped in late October and November through shipment incentive payments.
Additionally, to alleviate demand shortages from kimchi manufacturers and dining establishments, the government and private sector are intensively supplying about 4,000 tons of imported cabbage (1,100 tons by the government and 3,000 tons by the private sector). To ease consumer purchasing burdens during this period, large supermarkets are supported to offer up to 40% discounts, including store-specific discounts, on cabbage sales until the 9th of this month, with plans to extend if necessary.
Since the 30th of last month, the ministry has operated the "Autumn Cabbage Growth Management Council" to monitor crop conditions such as temperature changes, rainfall, and pest occurrences in major production areas. For regions with poor growth, the Central Field Technology Support Team of the Rural Development Administration has been dispatched to take timely measures such as spraying pesticides and nutrients and irrigation.
Also, anticipating increased cabbage production costs due to frequent nutrient spraying, the government plans to use all available resources?including support funds from the government, local governments, the NongHyup, wholesale corporations, and private companies (Rural and Fisheries Win-Win Cooperation Fund)?to reduce farmers' burdens for nutrient and pesticide expenses.
Hot Picks Today
[Exclusive] "What? I Used It for Fried Eggs and...
- "Chairman Chey Tae-won's Warning Comes True"... Laptop Prices Already Up 1 Milli...
- SK hynix to Pay 265.8 Billion Won Cash Dividend... 375 Won Per Share
- Israeli Military Chief of Staff: "Prepared to Return to Combat on All Fronts"
- "From 8,000 Won to 730,000 Won: The Toy Everyone Wants but Can't Get"
Park Soon-yeon, Director of Distribution and Consumption Policy at the Ministry, said, "From around the 10th of this month, as cabbage shipment areas expand from existing regions such as Pyeongchang, Hongcheon, Jeongseon, and Yeongwol in Gangwon Province to Jecheon and Danyang in Chungbuk Province, prices will begin to decline. Later, in late October, when shipments further expand to Mungyeong and Yeongyang in Gyeongbuk Province, shipment volumes will increase significantly, easing consumer burdens." She added, "We will strive to minimize the price burden of cabbage during the kimchi-making season through thorough crop management."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.