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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] The retail price of a single head of cabbage in some large supermarkets has exceeded 20,000 KRW, more than double the price reported by government surveys.
On September 23rd, a post titled "Current Cabbage Prices at Hanaro Mart" appeared in an online community for small business owners. The post included a photo showing a price tag of 22,000 KRW for one head of domestically produced cabbage at a Hanaro Mart store. Shocked by the price, netizens commented, “Cabbage prices are insane” and “We should call it ‘gold cabbage’ instead of kimchi.”
This price is about twice the average price reported by the Korea Agro-Fisheries & Food Trade Corporation (aT), which tracks and publishes daily cabbage prices from traditional markets, large supermarkets, and Hanaro Marts.
According to the aT's Agricultural Products Distribution Information System (KAMIS), the retail price of highland summer cabbage on that day was 9,321 KRW per head. This represents a 50.5% increase compared to last year's price (6,193 KRW) and is 29.2% higher than the average price for previous years.
The sharp rise in cabbage prices is due to a combination of extreme heat, drought in some farming areas, and recent heavy rains that have reduced the supply of cabbage to the market.
With the unstable cabbage supply, food companies have also started halting sales. On September 19th, Daesang announced on its online store, Jeongwon eShop, that the production and shipment of its Jongga kimchi had been delayed due to raw material supply issues. Similarly, CJ CheilJedang marked some products like "Bibigo Whole Cabbage Kimchi (1.8 kg)" and "Bibigo Bossam Kimchi (400 g)" as out of stock on its CJ The Market website and suspended sales.
알파경제 Kim Jisun Reporter(stockmk2020@alphabiz.co.kr)
