Livestock Prices Also on the Rise... Concerns Over Chicken Price Hikes
Government Mobilizes All Efforts to Control Prices... Summer Vacation Events Planned
The price of watermelon, a quintessential summer fruit, has surged by more than 36% compared to a year ago, approaching 30,000 won. With demand soaring amid consecutive days of extreme heat, prices of other major agricultural products such as cucumbers and zucchini are also rising across the board.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on July 13, the average retail price of a whole watermelon as of July 11 was 29,115 won, up 36.5% from the same day last year and 38.5% higher than the average year. Even compared to a week earlier, the price had jumped by 22.5%. At the beginning of this month, watermelon prices were in the 23,000 won range, but soared by more than 6,000 won in just one week.
The sharp price increase is attributed to two main factors: delayed crop growth due to insufficient sunlight in June, and a surge in consumption caused by the heatwave. The distribution industry also explained that a shortage of high-quality watermelons meeting the sugar content standard contributed to the price hike.
The average retail price of ten spiny cucumbers also rose by 25.6% year-on-year to 11,781 won, while zucchini increased by 25.1% to 1,404 won per piece. Most other summer fruits and vegetables, including melons (10,076 won), peaches, and perilla leaves, are also recording double-digit increases compared to both last year and the average year.
Livestock product prices are also fluctuating. With the first of the three hottest days of summer, Chobok, approaching on July 20, demand for chicken is rising, raising concerns about further price increases. Although the price of chicken (5,843 won per kilogram) in early July was 3.4% lower than last year, the recent heatwave has led to a higher mortality rate among chickens, raising concerns about supply disruptions.
The average price of 30 extra-large eggs was 7,089 won, 9.4% higher than a year ago. The Ministry of Agriculture, Food and Rural Affairs analyzed that the main reason was an increase in consumption.
The government has launched an emergency response to ease supply instability in agricultural and livestock products caused by the heatwave. It plans to adjust reserve stocks of key crops such as cabbage and watermelon, and support the recovery of production bases. The supply of Hanwoo beef will be increased by 30% compared to normal levels, and during the summer vacation season, the government will also hold discount events for agricultural and livestock products and traditional market rebate promotions.
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