There are predictions that this fall’s cabbage production will decrease by 5% compared to last year, so the wholesale price of cabbage this month could rise by more than 20%.
According to the Korea Rural Economic Institute’s November observation report on the 10th, the fall cabbage cultivation area this year was calculated to be 12,796 ha. It decreased by 2.7% compared to last year due to the effects of high temperatures and drought during the planting season. Planting refers to transplanting cabbage from where it was previously grown to where it will be grown until harvest. Due to the decrease in cultivation area, this year’s fall cabbage production is expected to be 1.18 million tons, 5.1% less than last year.
Accordingly, the Korea Rural Economic Institute predicted that the wholesale price of cabbage this month will be around 8,000 won per 10 kg, about 24% higher than a year ago. It is about 12% more expensive than the average price from 2019 to 2023, which is the average price excluding the maximum and minimum prices. However, compared to the previous month (19,000 won), it has fallen by half. The Korea Rural Economic Institute predicted that winter cabbage production would be 240,000 tons, similar to last year, but down 3.7% from the average year.
Fall radish production is also expected to decrease by 15.8% from last year to 373,000 tons. This is because prices fell during the shipping season (November to December) last year, reducing the cultivation area, and production was sluggish due to high temperatures and drought during the planting season (August to September). The wholesale price of radishes this month was expected to be 17,000 won per 20 kg on a product basis. This is 1.5 to 2.3 times higher than the average year (11,252 won) or last year (7,446 won).
Meanwhile, Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong visited the Yangjae branch of Nonghyup Hanaro Mart in Seocho-gu, Seoul on this day and inspected the supply and demand of kimchi ingredients. Minister Song said, “Consumer prices are expected to become more stable after November, when kimchi begins,” adding, “Supply of additional kimchi ingredients such as red pepper powder, onions, and green onions will also increase, thereby stabilizing supply.”
Sejong = Reporter Lee Ho [email protected]
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Time.news Interview: Impact of Cabbage Production Decline on Prices
Editor: Welcome to Time.news! Today, we have with us Dr. Lee Jun-seok, an agricultural economist from the Korea Rural Economic Institute. Dr. Lee, thank you for joining us.
Dr. Lee: Thank you for having me. It’s a pleasure to be here.
Editor: Let’s dive right in. Recent forecasts indicate a 5% decrease in fall cabbage production compared to last year. Can you explain what factors led to this decline?
Dr. Lee: Absolutely. The primary reasons for this decrease are high temperatures and drought conditions during the planting season. This has significantly affected the cabbage cultivation area, which has decreased by 2.7% this year. With less area devoted to cabbage cultivation, we’re seeing a corresponding drop in production volume, now projected at about 1.18 million tons.
Editor: That’s quite concerning for both producers and consumers. How does this production decline impact wholesale prices?
Dr. Lee: Well, the wholesale price of cabbage is expected to rise considerably. We’re looking at a projected price of around 8,000 won per 10 kg this month, which is nearly 24% higher than last year. It’s important to note that while this price is down significantly from the previous month’s price of 19,000 won, it’s still noticeably high compared to both last year and the average prices from 2019 to 2023.
Editor: That’s a steep increase indeed. With the holiday season approaching, how does this price increase affect consumer behavior, especially in terms of kimchi preparation?
Dr. Lee: That’s a great question. Kimchi, as we know, is a staple in Korean cuisine, and cabbage is among its key ingredients. As the prices rise, consumers might be forced to reconsider their purchases, potentially opting for alternatives or reducing the quantity they buy. However, Minister Song Mi-ryeong mentioned that additional supplies of kimchi ingredients—like red pepper powder, onions, and green onions—should stabilize the supply chain, which may help mitigate some price pressures in the market.
Editor: Speaking of alternatives, how about other crops? We’re also seeing a significant drop in fall radish production. What’s the forecast there?
Dr. Lee: Yes, that’s correct. Fall radish production is expected to decrease by about 15.8%, leading to a wholesale price around 17,000 won for 20 kg, which is substantially higher than the average year. Similar climatic conditions have affected radish growth as well. This raises questions about how consumers might adjust their meals or seek substitutions during this period.
Editor: So, in essence, multiple vegetable prices are on the rise. What do you believe the long-term implications are for the agricultural sector in Korea?
Dr. Lee: If these climatic conditions persist, we might see a trend of decreased cultivation for multiple crops, which could affect food security and market stability. Farmers will need to adapt by implementing more resilient farming practices. Also, investing in technology and resources to manage adverse climate conditions will be crucial for sustainable agricultural practices moving forward.
Editor: It sounds like a pressing issue our agricultural sector must navigate carefully. Thank you, Dr. Lee, for your insights today. Before we wrap up, do you have any final thoughts for our readers?
Dr. Lee: I would encourage everyone to stay informed about these agricultural trends, as they have direct impacts on daily life and food prices. Supporting local farmers and sustainable practices can also make a significant difference in the long run.
Editor: Thank you, Dr. Lee. It’s been a pleasure discussing these important topics with you. We’ll keep an eye on the cabbage and radish prices and their impact on our tables this winter.
Dr. Lee: Thank you for the opportunity!
Editor: And to our readers, thank you for tuning in. Stay informed and prepared for the coming months.