Record-Breaking Monsoon Causes Surge in Vegetable and Fruit Prices... Retail Industry Steps Up to Stabilize Food Costs

[Asia Economy Reporter Seungjin Lee] As vegetable prices soar due to the longest rainy season in history, causing fluctuations in food prices, the distribution industry has taken action.

First, Emart is partnering with the Ministry of Agriculture, Food and Rural Affairs to hold the "Let's Go for Korea Agricultural Discount" event until the 26th, aiming to stabilize vegetable prices that have risen due to the rainy season. The event features eight items: zucchini, radish, potato, carrot, bok choy, green chili pepper, shiitake mushrooms, and mushroom maru mushrooms, selected as practical ingredients for everyday use.

Emart has designated these eight vegetables as Ministry of Agriculture, Food and Rural Affairs event products and offers a 20% discount up to 10,000 KRW per person when Shinsegae Point members verify their membership.

For zucchini and radish, in addition to existing contracted farms, Emart procured products from agricultural cooperatives in production areas less affected by flood damage, and expanded suppliers by purchasing quantities when prices were low after checking the Garak Market prices, minimizing price increases.

Regarding potatoes, Emart stabilized prices by purchasing about 800 tons?three months' worth of supply?from June 20 to July 5, before the rainy season started, and storing them in centers.

Homeplus secured a large quantity of fresh domestic seasonal foods such as blue crabs, new rice, and gizzard shad, which are in season in autumn, and offers them at affordable prices at all stores and online malls until the 26th.

First, the first harvested autumn blue crabs of this year can be purchased at a low price. To ensure stable supply and price competitiveness, Homeplus buyers have stayed at production sites throughout the season, expanding contracts with local fishermen and dedicated logistics vehicles. Through this, they plan to deliver about 350 tons daily?the largest volume among large marts?from the fishing ports directly to stores until October.

Additionally, Homeplus secured 100 tons of this year's first harvested new rice and offers it at a striking price of 9,990 KRW per 3 kg. Through prior large-scale volume contracts, the price was lowered to about 3,300 KRW per kg.

Lotte Mart, as part of the "Let's Go for Korea Agricultural Discount" campaign, offers up to 20% discounts to L.Point members who pay with event cards on items such as perilla leaves, young radish greens, and cucumbers.

Market Kurly is running "Our Korean Pork Table," offering over 70 kinds of domestic agricultural and livestock products, including Korean pork and leafy vegetables for wraps, with up to 10% discounts as part of the Ministry of Agriculture, Food and Rural Affairs' "Let's Go for Korea Agricultural Discount" campaign.

During the "Our Korean Pork Table" event, which runs until the 27th, a 20% discount coupon (up to 10,000 KRW off) usable on event products is also provided to reduce consumer price burdens. The coupon can be issued once per ID and is valid until the event ends on August 27.

Market Kurly offers various pork cuts such as pork belly, neck, front leg, skirt meat, and jowl as part of the event. They also present a variety of leafy vegetables including GAP-certified perilla leaves, organically grown red leaf lettuce, wrap kale, angelica leaves, red chard, and chicory.

Furthermore, Market Kurly plans to hold its third event introducing fresh Korean agricultural products such as fruits, vegetables, and grains from the 24th to the 31st. This event will feature a diverse range of fresh agricultural products, including peaches, tomatoes, grapes, new rice, organic brown rice, mushrooms, bok choy, eggplant, and potatoes, offered at up to 15% discounted prices.

Meanwhile, Market Kurly is also participating in the Ministry of Oceans and Fisheries' "2020 Korea Genuine Seafood Festival," offering special deals on domestic seafood. Until the 26th, they feature "Our Seafood from Clean Areas," handling fresh seafood such as catfish, trout, and sturgeon, and from the 27th to September 2, they introduce various fish species used as home meal side dishes, including sea eel, Spanish mackerel, and kelp, under the theme "Cheer Up Korea! Cheer Up Our Seafood."