Korean Kimchi Crisis Pushes up Cabbage Price
    2010-10-13 13:14:14     CRIENGLISH.com      Web Editor: haodi
 

The picture taken  in Seoul, capital city of South Korea, on Oct. 5, 2010 shows an elderly man bought cabbages on sales offered by the government.[Photo:Xinhua]

South Korea's shortage of cabbage, an indispensable ingredient of its popular national dish kimchi, has caused cabbage prices to rise in China, the "Guangzhou Daily" reports.

Because of growing demand from South Korea and unfavorable weather this year, cabbage prices in northeast China have risen to about 850 yuan per ton (US$130) from 550 yuan per ton (US$80) in the first half of the year .

Even in south China's Guangzhou city, relatively far from South Korea, cabbage prices have increased 12 percent over the past month, the report said.

The price increase has presented huge business opportunities for Chinese cabbage growers and exporters. Shandong, the province nearest to South Korea, has become the best locale for cabbage buyers and exporters.

But insiders point out that the price hike is temporary and a significant increase in next year's cabbage supply must be avoided.

With the season for making kimchi approaching, South Koreans have seen an increase in cabbage prices as well, which have risen nearly sixfold compared to prices during the same period last year.

Soaring inflation in South Korea has also contributed to the so-called kimchi crisis, the report said.

China exported a limited number of cabbages to South Korea in past years because of a previous import tax, the report said.

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