A single watermelon now costs more than dining out
With abnormally hot weather arriving in Korea earlier than usual, prices of summer vegetables and fruits such as watermelon are climbing quickly, adding to the overall pressure on grocery bills already pushed higher by costs of processed food and dining out.
The average retail price of a watermelon stood at 26,091 won ($19) as of Tuesday, up 31.7 percent compared to the seasonal average over the past five years, excluding the highest and lowest values, according to data from the Korea Agro-Fisheries & Food Trade Corporation. The price is also 26.6 percent higher than last year.
Watermelon prices are rising as supply is unable to keep up with growing demand.
“Shipments from Yanggu in Gangwon, a major production area, should begin in early July,” said Rho Ho-young, head of horticultural crop outlook at the Korea Rural Economic Institute (KREI). “But heavy rainfall last month and lack of sunshine have delayed harvests. Demand also tends to increase during hotter years, which puts upward pressure on prices."
The KREI forecasts that watermelon prices are likely to remain high for the time being. In an earlier report, the KREI said prices would "remain above last year’s levels due to higher temperatures and increased prices for substitute fruits like Korean melons."
"Though Korean melon prices dipped slightly in recent days, prices are expected to rise again in mid-July as shipments decline," the KREI said.
Melon prices are also up, with an average retail price of 9,574 won per fruit, a 7.8 percent increase from the seasonal average. Tomato prices are also climbing. The average retail price for 1 kilogram (2.2 pounds) of tomatoes reached 4,100 won, up 5.7 percent from the seasonal average.
Cherry tomatoes cost 7,546 won per kilogram, 12.7 percent higher. Farmers planted and harvested tomatoes earlier than usual this year to avoid the midsummer heat, pushing prices up. Korean cucumbers, known as chwi-cheong oi, also saw price increases. A bundle of 10 sold for 12,318 won, up 18.3 percent from the seasonal average.
Vegetables that are sensitive to heat are also becoming more expensive. A 100-gram (3.5-ounce) pack of perilla leaves sold for 2,516 won, up 26 percent. Green chili peppers climbed to 1,673 won per 100 grams, an increase of 18.2 percent.
With the peak summer season approaching, the government and market authorities are closely monitoring the impact of extreme weather, including heat waves and heavy rainfall, on crop growth.
The Ministry of Agriculture, Food and Rural Affairs is particularly focused on napa cabbage, which is vulnerable to heat. Officials said that they are preparing contingency plans through a newly formed cultivation management task force, including the early production of napa cabbage seedlings to minimize disruptions to post-Chuseok supplies.