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Greens go through the roof as sun spoils crops

 
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sojusucks



Joined: 31 May 2008

PostPosted: Wed Aug 08, 2012 4:12 pm    Post subject: Greens go through the roof as sun spoils crops Reply with quote

http://koreajoongangdaily.joinsmsn.com/news/article/article.aspx?aid=2957610&cloc=joongangdaily|home|newslist2

Quote:
The ongoing heat wave has triggered a disastrous slump in vegetable crops, threatening shortages and higher prices. The prices of lettuce, spinach and some other green vegetables had almost doubled as of yesterday from last month, according to the retail industry.

Seoul Agricultural and Marine Products said the wholesale price of spinach surged by 118.5 percent to 25,762 won ($22.82) per four kilograms at Garak Market, a large wholesale food market in Garak-dong, Songpa District, in southern Seoul.

The price of spinach at the market is 41.9 percent higher than this time last year, when heavy rain had an even more disastrous impact on vegetable crops.

Green onions also increased to 2,195 won per kilogram, 39.5 percent higher than last month, while red peppers jumped 39.8 percent on-month and 28 percent on-year. Red peppers were trading at 47,720 won per 10 kilograms yesterday. Lettuce spiked 25.2 percent on-month to 19,630 won.

The domino effect of rising vegetable prices quickly became evident at E-Mart and Lotte Mart, the nation�s two major discount stores.

E-Mart raised the price of 300 grams of spinach by 32.9 percent from July, pricing it at 2,100 won yesterday. It also lifted the prices of green onions and radishes by 26.6 percent and 19.7 percent a bunch, respectively, leaving the former at 2,380 won and the latter at 2,130 won.

Lotte Mart doubled the price of 150 grams of lettuce to 2,000 won, and is asking consumers to fork out an extra 68.9 percent on radishes.

Industry officials said the supply of vegetables usually peaks in the summer, but the extraordinary weather conditions have had a catastrophic effect on leafy vegetable crops, which are especially vulnerable to the heat. They often wither at temperatures in excess of 35 degrees Celsius (95 degrees Fahrenheit).

�As crops continue to be hit by the hot weather, shipments of produce are expected to decline further this month,� said an employee at E-Mart.

Pumpkins and cucumbers are also seeing a supply dearth.

�The prices of fruits and vegetables are highly likely to keep rising,� said an employee at Lotte Mart.


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GoldMember



Joined: 24 Oct 2006

PostPosted: Wed Aug 08, 2012 5:56 pm    Post subject: Reply with quote

Ciggies and Soju are cheap, but fruit and vegetables are expensive. Is it just me, or is there something profoundly wrong with this setup?
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Skippy



Joined: 18 Jan 2003
Location: Daejeon

PostPosted: Wed Aug 08, 2012 9:17 pm    Post subject: Reply with quote

GoldMember wrote:
Ciggies and Soju are cheap, but fruit and vegetables are expensive. Is it just me, or is there something profoundly wrong with this setup?


No nothing wrong with this set up. Ciggies and soju have a longer shelf life then many vegetables. A bottle of soju does not go off in a week. Cigarettes might get stale but most can be stored for months. Lettuce and spinach are very time sensitive, you can not really freeze or store them well. From picking

My question is what is the turn around on this. The weather is changed a bit and is cooling down a little. So how long till next crop comes out.
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viciousdinosaur



Joined: 30 Apr 2012

PostPosted: Wed Aug 08, 2012 10:15 pm    Post subject: Reply with quote

GoldMember wrote:
Ciggies and Soju are cheap, but fruit and vegetables are expensive. Is it just me, or is there something profoundly wrong with this setup?


I agree completely. It's a failure of policy. If sugar was taxed we wouldn't have an obesity problem. Subsidize broccoli and tax high-fructose corn syrup and I guarantee the obesity rate drops by 10 points.
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Lazio



Joined: 15 Dec 2010

PostPosted: Thu Aug 09, 2012 1:36 am    Post subject: Reply with quote

Gotta love these farmers. They always find a reason to raise the prices. Last year it was raining endlessly now it�s sunny and hot� Ever heard something like �the weather was perfect so we are able to put things on the shelves for 30% less compared to last year"?
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hagwonnewbie



Joined: 09 Feb 2007
Location: Asia

PostPosted: Thu Aug 09, 2012 6:20 am    Post subject: Reply with quote

Ya... those ajummas selling vegetables on the street are raping us poor English teachers here just trying to save a couple thousand each month. Oh! we are such victims of the family farmers manipulating the prices like some secret illuminati
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transmogrifier



Joined: 02 Jan 2012
Location: Seoul, South Korea

PostPosted: Thu Aug 09, 2012 10:47 am    Post subject: Reply with quote

Lazio wrote:
Gotta love these farmers. They always find a reason to raise the prices. Last year it was raining endlessly now it�s sunny and hot� Ever heard something like �the weather was perfect so we are able to put things on the shelves for 30% less compared to last year"?


Um, welcome to the free market?

Drought = some crops fail = less supply than demand = prices rise
Perfect weather = all crops have good harvest = more supply than demand = prices drop

If farmers could just set whatever prices they want, without worrying about how much they actually have to sell and how it would affect demand, why don't they charge $100 a carrot?
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