"Mid-November Cabbage Supply Expansion... Available for Purchase at the Lowest Price"

Mid-Next Month Cabbage Prices Expected to Be in the 3000 Won Range

Amid growing public concern over the "gold cabbage" phenomenon during the kimchi-making season, a forecast has emerged that "consumers will be able to purchase cabbage at the lowest prices starting from mid-November."

Park Soon-yeon, Director of Distribution and Consumption Policy at the Ministry of Agriculture, Food and Rural Affairs, said at a briefing on 'Measures to Stabilize the Supply of Kimchi Ingredients' held at the Government Complex Sejong on the 23rd, "Cabbage prices will continue to decline, and the period when the cultivation area and supply volume expand is mid-November."

Park Soon-yeon, Director of Distribution and Consumption Policy, Ministry of Agriculture, Food and Rural Affairs [Image source=Yonhap News]

Director Park stated, "Until early November, shipments do not occur in earnest, and from mid-November, kimchi vegetables such as cabbage and radish are shipped in full swing." She added, "It seems reasonable for consumption to also begin from mid-November in line with supply."

Regarding cabbage prices, she noted, "There are many variables," but predicted, "By early November, the price per head will be in the 4,000 won range, and by mid-November, it will be in the 3,000 won range." She also explained that compared to average prices in previous years, this is "a slightly higher level."

Earlier, the Ministry of Agriculture, Food and Rural Affairs, together with the Ministry of Oceans and Fisheries and the People Power Party, held a meeting with the Democratic Party on the same day to announce measures to stabilize the supply of kimchi ingredients. The plan includes increasing contract cultivation volumes of cabbage and radish (24,000 tons of cabbage and 9,100 tons of radish) by more than 10% compared to last year and securing stockpiles. It also includes support for selling cabbage and radish at up to 40% discounts at nationwide supermarkets and traditional markets until December 4.

Director Park said, "We intend to provide as much discount support as necessary, reflecting the agricultural product price situation," adding, "Since it is a post-settlement system, the government’s direction is finalized, and payments will be made as needed considering the price situation." Regarding the related budget, she explained, "The final decision will be made after consultation with the financial authorities."

The Ministry of Agriculture, Food and Rural Affairs plans to continue long-term discussions to improve market concerns caused by large price fluctuations due to annual changes in cabbage supply. Director Park said, "Most of the cultivation in Gangwon Province occurs in summer, while places like Jeju Island cultivate in winter, causing extreme supply issues," adding, "Measures involving technology and capital investment will be necessary to resolve these temporary production shortages."