Vegetable prices expected to keep rising due to typhoon damage and record-breaking heat waves

A woman shopping at a traditional market in Seoul checks the price of vegetables on August 20. Moon Jae-won

Vegetable prices are soaring due to record-breaking heat waves. The price is expected to continue to rise due to typhoon damage and growing concerns over the imbalance between supply and demand ahead of the Chuseok holidays.

According to the Korea Agro-Fisheries and Food Trade Corporation’s (aT) agricultural product distribution information on August 20, the retail price of spinach (100 grams) was 3,112 won as of the previous day, up 105.7 percent from a month ago (1,513 won). During the same period, the price of paprika (200 grams) rose 54.3 percent from 1,186 won to 1,830 won, watermelon (1 piece) rose 52.0 percent from 213,366 won to 32,430 won, and cabbage (1 head) rose 42.7 percent from 4,828 won to 6,888 won.

The Ministry of Agriculture, Food and Rural Affairs explained that prices of vegetables are rising due to heavy rains during the rainy season and record-breaking heat waves that reduced shipments. In the case of cabbage, shipments decreased due to the reduction in the cultivation area of summer cabbage and insect pests such as soft rot, which causes crops to melt due to heat waves. In addition, the delay in planting cabbage at farms in preparation for the increase in demand for Chuseok next month also affected the decrease in shipments.

An official from the ministry said, "The shipments fell relatively in early and mid-August as farmers adjusted the official timing to ship after late August in preparation for demand for Chuseok (September 17), which is more than 10 days earlier than last year," adding, "The recent surge in demand for some vegetables, including spinach and cabbage, is also contributing to the rise in vegetable prices."

Vegetable prices are likely to rise further due to weather variables, such as typhoons, and increased demand for Chuseok. “Jongdari,” this year’s ninth typhoon which landed on the Korean Peninsula on the day, is forecast to bring strong winds and a large amount of rain across the country until August 22.

In 2022, heat waves and heavy rains in August followed by Typhoon Hinnamno in early September flooded crops, causing prices of most vegetables to soar, with the wholesale price of cabbage doubling in a month. From 2019 to 2021, crop damage from typhoons and heavy rains amounted to 94,463 hectares annually. Previously, Typhoon Rusa landed in 2002 and Cicada in 2003 caused 240,000 and 120,000 hectares of crop damage, respectively.

“We will manage the supply and demand of vegetables whose prices have increased due to heavy rains and heat waves by releasing stockpiles and supporting early shipments,” said an official from the ministry. “We will also come up with measures to stabilize people’s lives ahead of the Chuseok holidays at the end of this month, which includes expanding the supply of products used for Chuseok from normal times.”

※This article has undergone review by a professional translator after being translated by an AI translation tool.