Watermelon and Cabbage Prices Surge Over 20% in a Week.. Emergency in Grocery Prices Amid Heatwave

[Financial News] Amid an unprecedented heatwave, the prices of watermelons and cabbages have surged over 20% in the past week, with agricultural product prices soaring. With the first day of the dog days of summer approaching, the price of chicken is also on the rise, causing an emergency in 'grocery prices'.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 13th, the average retail price of a watermelon as of the 11th was 29,115 won, nearing the 30,000 won mark.
Compared to a year ago, the price has risen by 36.5%. Compared to the average price, it is 38.5% higher. It has increased by 22.5% compared to a week ago. As of the 4th, the retail price of watermelons was in the 23,000 won range, but between the 7th and 8th, it rose to the 25,000 won and 26,000 won range. On the 10th, it jumped to 28,000 won.
The rise in watermelon prices is analyzed to be due to the delayed growth of watermelons caused by reduced sunshine last month and increased demand due to the heatwave.
Another seasonal fruit, melon, has already surpassed 10,000 won per piece. The average retail price is 10,076 won, which is 21.7% more expensive than a year ago and 16.3% higher than the average.
Peaches (Baekdo) are priced at 23,097 won for 10 pieces, which is about 10% higher than a year ago and the average, but the recent retail price is on a downward trend.
Perilla leaves are priced at 2,648 won for 100g, which is 14.4% higher than a year ago and 24.6% more expensive than the average.
The retail price of one cabbage and one radish is 4,309 won and 2,313 won, respectively, with prices rising by 27.4% and 15.9% in a week. However, it is about 10% cheaper than a year ago.
Among livestock products, egg prices are on the rise. According to the Livestock Products Quality Evaluation Institute, the average retail price of 30 eggs (large) as of the 11th was 7,162 won, up 5.9% from a year ago. The retail price of chicken is 6,070 won per kg, which is the same as a year ago, but has increased by 11% compared to a month ago.
The distribution industry expects chicken prices to gradually rise as chicken deaths and summer demand increase.
An industry official said, "As the recent heatwave continues, the chicken mortality rate is increasing," and "With the first day of the dog days of summer approaching on the 20th, chicken demand is increasing, and the price rise is expected to continue."
The government is also struggling to come up with measures to stabilize prices.
The Ministry of Agriculture, Food and Rural Affairs has decided to promote supply and demand stabilization measures due to the heatwave. In the case of cabbage, the government plans to secure 35,500 tons of available stock and release it to the market in case of supply and demand instability.
In addition, to prepare for damage from wilting and loss, 2.5 million cabbage seedlings are being prepared, and pest control agents are being provided to minimize damage from pests and diseases. For facility vegetables and fruits, the Rural Development Administration, local governments, etc., are strengthening field technical guidance such as drainage management and sunlight blocking while monitoring growth conditions. Furthermore, distribution companies are promoting various discount events to lower consumer-perceived prices.

ssuccu@fnnews.com Kim Seoyeon Reporter