[Why&Next] Agricultural Prices Fluctuating Every Jangma Season

Red Leaf Lettuce Prices Up 17% in a Week
Spinach and Cabbage Prices Also Surge
Government Conducts Field Inspections on Growth and Supply

As the monsoon season fully sets in, prices of lettuce and ssam cabbage are fluctuating. Concerns are rising that the price increase trend will steepen due to the unusual monsoon patterns, as well as heatwaves and typhoons.

According to the agricultural product distribution information from the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 8th, the price of red leaf lettuce (premium grade, 100g) was 1,178 KRW on the 5th, up 17.3% (174 KRW) from 1,104 KRW on the 28th of last month. It is especially 35.1% higher than the previous month’s price of 872 KRW.

Generally, leafy vegetables like lettuce are vulnerable to heatwaves and heavy rains, so when supply is disrupted by monsoons and typhoons, prices rise. According to Statistics Korea, fresh vegetables rose 7.2% month-on-month in July last year when consumer prices increased by 0.1%. In August, while overall prices rose 1.0%, fresh vegetables surged by 16.6%. Although agricultural product prices, especially vegetables, typically rise during monsoons, typhoons, and heatwaves, this year there are significant concerns about price hikes due to the expected severity of abnormal weather such as heatwaves and heavy rains.

The price of albae-gi cabbage (premium grade, per head), consumed as a ssam vegetable along with lettuce, also surged sharply within a week. It rose 26% (626 KRW) from 2,406 KRW on the 28th of last month to 3,032 KRW on the 5th. Perilla leaves also saw a slight increase of 2.2%, from 2,043 KRW to 2,087 KRW during the same period.

Prices of spinach, carrots, and napa cabbage are also fluctuating. Spinach was 981 KRW per 100g on the 28th of last month but rose 30.1% (295 KRW) to 1,276 KRW on the 5th. Compared to the previous month (771 KRW), it increased by 65.5%, and compared to last year (1,010 KRW), it rose 26.3%. Carrots (premium grade, 1 kg) and napa cabbage (per head) also increased by 5.6% and 16.1%, respectively, reaching 6,177 KRW and 4,445 KRW on the 5th.

Apples, which saw a significant price increase to the extent that they were called 'golden apples' due to production shortages caused by abnormal weather, have recently seen a slight price drop but still maintain high prices compared to last year. On the 5th, Fuji apples (premium grade, 10 pieces) were priced at 33,090 KRW, down 2.4% from the previous week. However, they remain 16.4% and 18.9% more expensive than last year (28,426 KRW) and the average year (27,841 KRW), respectively.

The Ministry of Agriculture, Food and Rural Affairs expects apple prices to stabilize after August when early varieties are shipped. A ministry official said, "From late July, 'Tsugaru (Aori)' and 'Summer King' apples will be shipped in earnest, and from late August, 'Hongro' will be shipped. Pears will see 'Wonhwang' shipped in mid-August and 'Shingo' varieties from late August. Currently, the growth conditions of apples and pears are 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 is taking measures to minimize agricultural product damage from monsoons, heatwaves, and typhoons by having ministers and vice ministers directly monitor growth and supply conditions on-site and implement growth management and stockpiling strategies. In particular, for open-field vegetables vulnerable to the hot and humid summer environment, such as napa cabbage and radish, pest and disease control and technical guidance are being strengthened through a growth management council. Additionally, the government has secured 23,000 tons of napa cabbage and 5,000 tons of radish as available summer stocks and prepared 2 million napa cabbage seedlings to respond to emergencies such as disasters.