According to South Korea’s “World Daily” report on the 26th, due to the soaring price of Korean cabbage recently, the price of one cabbage reached a maximum of 9,330 won on the 25th, which is about 50 yuan.
The price of kimchi, which is essential on the table of Korean people, has also risen sharply. Meanwhile, South Korea’s imports of Chinese-made kimchi have surged.
According to the price information released by the Korea Agriculture and Fisheries Food Circulation Corporation on the 25th, the price of cabbage on that day reached a maximum of 9,330 won (about 48.5 yuan), and the national average retail price was 7,189 won (about 37.4 yuan).
According to reports, since July, the price of cabbage has skyrocketed. This month’s average price of cabbage was 5,251 won (about 27.3 yuan), 27% higher than in June and 55% higher than last July.
The Agricultural Observation Center of the Korea Rural Economic Research Institute stated that the reason for the recent increase in cabbage prices is that the planting area of cabbage has decreased compared with last year, coupled with the impact of severe weather such as high temperature, resulting in a poor cabbage harvest. It is expected that the price of cabbage will continue to rise in August.
The price of white radish, which is known as the “two main ingredients for making kimchi” along with cabbage, has also risen sharply, according to the World Daily. In July, the average retail price of a white radish was 2,400 won (about 12.5 yuan), which was 16% higher than that in June and 36% higher than that in July last year.
According to the report, since the beginning of this year, the prices of raw materials for making kimchi, such as cabbage, radishes, and seasonings, have all risen sharply, and the price of self-produced Korean kimchi has also risen sharply. The high price of self-produced kimchi has burdened Korean consumers and the restaurant industry, so South Korea has begun to import Chinese-made kimchi in large quantities.
According to statistics on import and export trade conducted by the Korea Customs Service, the import volume of kimchi in May this year was 24,845 tons, an increase of 17.4% year-on-year in May last year, most of which came from China.
“World Daily” reported that the price of raw materials for kimchi produced in South Korea will remain high for the time being, and the import volume of kimchi produced in China is expected to continue to increase.
A Korean housewife told the “World Daily” that she wanted to buy some cabbage at the community market to pickle kimchi at home, but picked 3 pieces of cabbage but was charged 20,000 won (about 104 yuan). She picked up the cabbage and put it down, repeated several times, but in the end, she didn’t buy it and returned empty-handed.