Relentless Heatwave Drives Up Vegetable and Fish Prices in South Korea

South Korea is grappling with soaring food prices as relentless heatwaves impact agricultural and fishery output. The rising cost of vegetables and seafood is placing a significant burden on consumers, with the situation described as a "red alert" for household budgets.

The heat-sensitive nature of leafy greens has led to a sharp decline in their supply. Spinach prices, for instance, have skyrocketed by over 150% in the past month, reaching 1,978 won per 100 grams. Other vegetables like cucumbers and zucchini have also seen substantial price increases of 54.8% and 46.6%, respectively. A large supermarket official noted that spinach prices rose about 60% compared to the previous month, while perilla leaves saw an 18% increase due to a combination of increased demand as a substitute and poor growth conditions.

Seafood prices are also on the rise, attributed to elevated sea temperatures caused by the heat. The average auction price for farmed flatfish (광어) increased by 2.29% in a week and is up 13.2% compared to last July. Mackerel and hairtail prices have also surged by 47.3% and 41.5%, respectively. This trend is reflected in retail prices, with 300 grams of flatfish sashimi now costing around 25,000 won, a nearly 58% increase from early May.

The high water temperatures have caused significant damage to fish farms, with approximately 864,497 fish reported dead nationwide as of August 7. Experts predict that seafood prices may continue to climb even after the heatwave subsides, as the ocean heats up and cools down more slowly than land. The prolonged heatwave is creating a challenging economic environment for consumers already facing inflationary pressures.

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Spinach prices rose about 60% compared to the previous month, while perilla leaves saw an 18% increase due to a combination of increased demand as a substitute and poor growth conditions.