According to the latest data recently released by Statistics Korea, the price of dining out in South Korea rose by 3% year-on-year in April this year, and the price of fruits and vegetables also remained high. As South Koreans spend more on their vegetable baskets, China's vegetable imports have skyrocketed.
Recently, many consumers who eat out generally say that lunch is getting more and more expensive, and eating an ordinary lunch in Seoul is about 70 or 80 yuan. According to the latest data recently released by Statistics Korea, the price of dining out in South Korea rose by 3% year-on-year in April, which is higher than the overall price increase rate for 35 consecutive months.
Specifically, fried rice cakes rose the most, and the prices of bibimbap and gimbap also increased by more than 5%. Due to the recent increase in the prices of hamburgers, fried chicken, cold noodles, etc., it is likely that the price of out-of-home dining in South Korea will continue to be high in the short term.
Not only is the price of eating out high, but the price of ingredients for daily cooking is not cheap for Korean people. According to data released by Statistics Korea earlier this month, South Korea's consumer price index rose 2.9% year-on-year in April, of which the price of agricultural products rose sharply by 20.3%, and the high prices of "fruit baskets" such as apples and pears remained one of the main factors pushing up the overall price level.
Following apples and pears, data from the Korea Agricultural and Aquatic Food Distribution Corporation showed that the retail price of small tomatoes per kilogram was about 57 yuan on the 3rd of this month, a year-on-year increase of more than 40%. In addition, the prices of vegetables commonly eaten by the people, such as green onions and garlic, as well as condiments such as salt and sugar, have also increased significantly.
In South Korea, imported ingredients are generally more expensive than domestic ones, and with the high prices of domestic fruits and vegetables, the import of high-quality and low-cost Chinese vegetables has skyrocketed. According to the latest data from South Korea's Customs Service, China's imports of green onions and cabbage surged by 764% and 171% respectively in March compared with the same period last year, while carrot and onion imports also increased.
Many Korean consumers said that there is almost no difference between the quality and freshness of vegetables imported from China and those produced in South Korea, and the price is more cost-effective. In order to stabilize prices, South Korea has applied zero tariffs to seven commodities such as cabbage, cabbage, and carrots from this month, and it is expected that the scale of imported agricultural products will be further expanded in the short term.
Source: China News Network