Han Hoon, Vice Minister of Agriculture, Food and Rural Affairs, "Clear Stabilization of Agricultural and Livestock Product Prices... Good Growth of Apples and Pears This Year"

Agricultural Food Supply and Growth Status Review Meeting
June Agricultural Product Prices Down 5.3% MoM...Vegetables Down 11.9%

Han Hoon, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, announced on the 4th that "the consumer price index for agricultural and livestock products in June fell by 2.2% compared to the previous month, showing a decline for three consecutive months and maintaining a clear stabilization trend."

Vice Minister Han presided over the 'Agricultural Food Supply and Growth Status Inspection Meeting' held at the Government Complex Sejong on the same day, stating, "Vegetables, which had high prices due to adverse weather in February and March, fell by 11.9% compared to the previous month."

According to the June consumer price trends announced by Statistics Korea on the 2nd, the overall consumer price index rose by 2.4% compared to the same month last year, but agricultural and livestock products fell by 2.2% compared to the previous month.

Agricultural products excluding livestock fell by 5.3% compared to the previous month due to improved weather conditions. In particular, most vegetable items saw price declines, such as napa cabbage down 22.9%, green onions down 13%, and green chili peppers down 16.2% compared to the previous month, following the high prices caused by adverse weather in February and March.

Vice Minister Han explained, "Seasonal melons and watermelons have shown a larger decline than in May, falling by 25.1% and 23.4% respectively compared to the previous month due to favorable crop conditions and expanded shipment volumes. Although livestock products are in a seasonally high demand period, supply conditions for all livestock types are favorable, resulting in a 0.8% decrease compared to the same month last year."

The Ministry of Agriculture, Food and Rural Affairs plans to have the minister and vice ministers directly monitor growth and supply conditions on-site to ensure the continuation of price stabilization, and to proactively implement measures such as growth management and stockpiling. For open-field vegetables vulnerable to the hot and humid summer environment, such as napa cabbage and radish, the ministry will strengthen pest control and technical guidance through a growth management consultative body. Additionally, the government will secure 23,000 tons of napa cabbage and 5,000 tons of radish as available summer stocks, and prepare 2 million reserve seedlings of napa cabbage to respond to emergencies such as disasters. Furthermore, for storage-capable products like onions, garlic, and dried chili peppers, a total of 14,000 tons will be stockpiled in advance to prepare for off-season periods and holidays.

The ministry forecasted that there would be no price increases like the current ones for apples and pears this year, as their growth conditions are favorable. Vice Minister Han stated, "The growth conditions for apples and pears are currently good, and the incidence area of fire blight and black spot disease is about 0.15% of the total cultivation area, so the impact on supply and demand is expected to be limited. The Ministry of Agriculture, Food and Rural Affairs will make every effort to alleviate the burden of grocery prices on the public."