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Cabbage Shortage in South Korea

Frantic Government Lifts Tariffs on Cabbage Imports
 

 

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5 Oct 10 - E-mail from a reader

Hi Robert,

This was reported by CNN News this morning but focused more on the extreme prices than on the weather, which caused the problem.... 

"the weather has been strange and we received too much rainfall" and "out-of-control cabbage hoarding has become rampant" are the two key phrases in this report that speak volumes. 

Rioting in the streets now doesn't seem all that far-fetched...

Best regards,
Alan Stover

                                   Passages from the article:

"In Korea, over the past 12 months, the price of cabbage--the main ingredient in kimchi, the country's national dish--has risen over 400% to 11,500 won ($10) from 4,000 won two weeks ago, and 2,500 won a month ago.

That's like having the price of a loaf of bread jump from $2.25 to $10.00 in one year.

"Since we have monitored the price, nothing like this has happened before."  

“The vegetable prices went up because land for farming has been removed for the four-river refurbishment project while the weather has been strange and we received too much rainfall.”

"Out-of-control cabbage hoarding has become rampant ... " the government has stepped in with unprecedented emergency measures to stave off a crisis of historic proportions by lifting all tariffs on imported cabbages.

See entire article:
http://www.minyanville.com/dailyfeed/kimchi-shortage-rocks-south-korea/

 





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