Vegetable prices skyrocket due to extended drought in South Korea

가뭄 후폭풍으로 밭작물 가격 급상승...공장 중단 우려도

Although there was some heavy rain this morning,... some areas of South Korea are still struggling with drought.
On top of skyrocketing inflation, the dry conditions have caused a jump in vegetable prices.
There are also worries that a lack of industrial water may halt operations at factories.
Our Song Yoo-jin provides a closer look into the siutation.
These days, it's easy to spot South Korean government officials standing in front of the news cameras, giving worrying updates about food prices.

"Because watermelons are so expensive these days, I think I need to buy one today before the price goes up."

The wholesale price of one watermelon has risen about 6-thousand Korean won... which is around 4-point-7 U.S. dollars from last year.

Then how about other groceries?

Although the country saw some much-needed rain across the country recently, there are some areas still experiencing drought.
This has led to a surge in vegetable prices.

Compared to last year, the price of most vegetables has increased.
The price of white radish jumped 56 percent, green chili 36 percent, and garlic 63 percent.
Green onion is up 86 percent, sesame leaf 28 percent, and potato 55 percent.

South Korea's average accumulated precipitation in the past month was only 6 percent of what it was last year.
Reservoirs and rivers have dried up due to the drought leaving riverbeds dusty and cracked.
Without water for green houses, vegetables inside have become hard as nails.

"Through my 85 years of life, I've never seen such an extreme drought.
There hasn't been any rain nor snow from winter."

The drought which started in the winter is also hampering operations at factories.
This is one of the biggest petrochemical complexes in South Korea located in Chungcheongnam-do province.
It's currently on high alert over the need to secure industrial water.

Factories owned by Hyundai Oilbank, Lotte Chemical, and LG Chem in this complex are searching for alternatives as the water reserve rates of a nearby lake... its main source of industrial water... fell to some 30 percent.
Normally, when the water reserve rate drops to 20 percent, the remaining water is set aside for agricultural use.
This means factories will have to look elsewhere for water to keep operations going.
Song Yoo-jin, Arirang News.


#price #economy #drought

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2022-06-13, 10:00 (KST)