Heat waves and rains drive spike in Korea’s farm prices

Extreme weather has sharply lifted the cost of fresh produce in South Korea. Record-breaking heat waves and heavy rains in July damaged crops, pushing the country’s agricultural producer prices up 8.9% from the previous month, according to Bank of Korea data.

Vegetables were hardest hit. Spinach prices skyrocketed 171.6%, while cabbage jumped 51.7%.

Lee Moon-hee, head of price statistics at the Bank of Korea, said harvest losses stemmed from poor growing conditions. He also noted that government-issued consumer discount coupons, rolled out in late July to encourage household spending on food and other goods, may have influenced demand — but it is too early to measure their real impact.

For produce businesses, the results underscore how vulnerable supply chains remain to weather volatility, with prices for key staples swinging sharply in just one month.

source: businesskorea.co.kr

photo: aeriskitchen.com