Prices of Watermelon, Napa Cabbage, and Tomatoes Surge Due to Poor Crop Growth
As the midday temperature continues to approach 35 degrees Celsius, a heatwave is causing the prices of leafy vegetables, including napa cabbage, to surge. The price of tomatoes has risen by more than 40% compared to a year ago. If the heatwave persists for an extended period, there is a possibility that agricultural product prices will rise further due to poor crop growth.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on August 3, the average retail price of watermelon as of August 1 was 33,337 won. This is 17.6% higher than a year ago, and compared to the average of the past five years?excluding the highest and lowest years?the price is 25.0% higher.
The price of watermelon has soared by 33.71% compared to a month ago. The combination of last month's rainy season and heatwave led to poor crop growth, and the early onset of the heatwave increased demand, both of which contributed to the price increase.
The retail price of tomatoes is 6,716 won per kilogram, which is 42.6% higher than a year ago and 33.2% higher than the average year. For napa cabbage, which typically sees large price fluctuations in the summer, the retail price per head has exceeded 6,000 won, reaching 6,114 won. This represents increases of 11.2% and 11.3% compared to a year ago and the average year, respectively.
According to Teran, a price forecasting system that calculates the FarmAir·Hankyung Agricultural Product Price Index (KAPI), the wholesale price of napa cabbage on the previous day surged by an average of 81.65% from the previous week, reaching 1,535 won per kilogram.
Leafy Vegetables See Price Hikes Due to Heatwave
Due to the recent heatwave, the prices of some agricultural products have risen significantly. In the case of napa cabbage, the retail price per head exceeded 6,000 won, reaching 6,114 won. Yonhap News
Napa cabbage and lettuce, along with other leafy vegetables, are typical cool-season crops that grow best around 20 degrees Celsius. When temperatures exceed 25 degrees, their growth deteriorates.
The wholesale price of napa cabbage rose to 1,155 won per kilogram on July 19, but fell to 734 won on July 24 after the government released its reserve stock. However, as the reserve stock was depleted and the heatwave persisted, prices began to rise again.
Other leafy vegetables are showing similar trends. The wholesale price of iceberg lettuce jumped by 52.12% from the previous week, reaching 2,697 won per kilogram. The prices of cabbage (up 43.49%), perilla leaves (up 35%), and lettuce (up 26.95%) are also soaring.
In response to the sharp rise in prices, the government is preparing measures to stabilize supply and demand. On July 30, aT announced that it would purchase 4,000 tons of summer napa cabbage for government reserves.
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