Rising Food Prices in South Korea: The Average Price of Bibimbap in Seoul Reaches 57 RMB, While Vegetable and Fruit Prices Hit Record Highs Globally
Recently, the continuous rise in prices in South Korea has attracted widespread attention from various sectors. Bibimbap, one of the most representative and affordable dishes in Korea, has also seen its prices steadily increasing. According to newly released data from South Korea, the average price of a serving of bibimbap in the Seoul area surpassed 11,000 won (approximately 57 RMB) for the first time in September, setting a new historical record.
The key reason for the price increase of bibimbap is the significant rise in vegetable prices in South Korea. For instance, the average wholesale price for a 4-kilogram box of spinach, essential for making bibimbap, exceeded 370,000 won (about 1,900 RMB) last month. Additionally, the price of domestically produced napa cabbage in South Korea has also surged, with the average wholesale price on the 14th reaching 8,920 won (approximately 46 RMB), marking a 128% increase compared to the same period last year.
Not only have vegetable prices skyrocketed, but fruit prices in South Korea have also remained high. According to the online platform Numbeo, as of September 11, South Korea recorded the highest average selling prices for bananas (1 kg), apples (1 kg), and other fruits among approximately 331 cities worldwide. Numbeo is a crowdsourced website that calculates average transaction prices by weighting price data released by city governments and combining it with actual transaction examples. Although Numbeo is not a government agency, it has a certain level of credibility in forecasting price trends.
According to Numbeo's statistics, the price of bananas (1 kg) in South Korea is 4,745.56 won, and apples (1 kg) cost 10,085.04 won, both ranking first globally. Moreover, the prices of potatoes (1 kg), onions (1 kg), and oranges (1 kg) in South Korea are also among the highest in the world.
The main reasons for the price increase include high production costs and import prices. Experts point out that unlike foreign countries with large-scale factories, South Korea has a higher proportion of small, labor-intensive factories, and the volume of imports is already low, making it difficult to import at low prices. Additionally, reduced yields due to abnormal weather conditions are also contributing to the rising prices.
In response to the tight supply of napa cabbage and high prices, the South Korean government has urgently imported cabbage from China to stabilize prices and alleviate supply-demand tensions. According to a report from the South Korean Ministry of Agriculture, Food and Rural Affairs on September 30, the government plans to import 1,100 tons of napa cabbage from China, with expectations that the prices and supply of cabbage in South Korea will stabilize next month. If the supply-demand situation improves, the government will suspend imports. Currently, the imported cabbage is mainly supplied to food processing and catering businesses.
Several Chinese residents living in South Korea have reported that the prices of packaged kimchi and fresh napa cabbage in local supermarkets in Seoul have generally increased. A photo taken by a student shows that a 3,700-gram package of kimchi in a Seoul supermarket is priced at 22,950 won (over 100 RMB). Another netizen living in South Korea mentioned that the price of fresh napa cabbage is soaring, with a single cabbage costing as much as 9,900 won (approximately 52 RMB), whereas in previous years, it was only around 2,000 won when prices were cheaper.