Song Mi-ryeong, the Minister of Agriculture, Food and Rural Affairs, made a statement during a meeting at the National Assembly in Yeouido, Seoul on the 23rd, regarding measures to stabilize the supply of ingredients for making kimchi. The government has recently stated that despite the sharp rise in cabbage prices, there will be no issues with the supply of cabbages during this year’s kimchi-making season.
On the 23rd, the Ministry of Agriculture, Food and Rural Affairs announced that the government and the ruling party held a bipartisan-government meeting to alleviate the public’s burden during the kimchi season by preparing the “2024 Kimchi Ingredient Supply Stabilization Plan” more than 10 days earlier than usual.
The Ministry explained that the government will maximize the supply of kimchi ingredients using contracted cultivation quantities and reserve stocks as part of the stabilization measures. Cabbages and radishes will be concentratedly supplied during the peak season (24,000 tons of cabbages and 95,000 tons of radishes through contracted cultivation), and reserve stocks will be maintained at a constant level (1,000 tons) to be released immediately when prices surge due to adverse weather conditions, thus preemptively addressing any supply imbalances.
The government will also supply reserve stocks of red chili peppers, garlic, onions, and natural sea salt to traditional markets, wholesale markets, and major retailers.
Consumers’ burden will be reduced by up to 50% through discounts on agricultural and seafood products. At 18,300 locations nationwide, including large-scale and small-to-medium-sized supermarkets as well as traditional markets, agricultural products such as cabbages and radishes, which have experienced price increases, will be sold at discounts of up to 40%. Seafood products like natural sea salt, salted shrimp, anchovy sauce, and oyster sauce will be sold at discounts of up to 50% through events like the “Korea Seafood Festival.”
Additionally, safety management will be enhanced with measures like stricter origin labeling inspections for kimchi ingredients and pesticide residue tests. Timely provision of information related to the supply of kimchi ingredients will support consumers in making rational purchases.
Despite this, the overall demand for kimchi ingredients has been decreasing each year. According to the Korea Rural Economic Institute, the proportion of households planning to make homemade kimchi this year increased by 4.8% to 68.1% compared to last year (63.3%), but the scale of kimchi-making for a household of four decreased by 7% to 18.5 heads of napa cabbage compared to last year (19.9 heads). Consequently, the demand for kimchi ingredients this year is expected to decline by 3.2% compared to last year.
In general, the supply conditions for key kimchi ingredients such as cabbages, radishes, red chili powder, and garlic are expected to be favorable. Although there were concerns about supply disruptions due to unusual heat affecting the key ingredients like cabbages and radishes, proactive management by farmers and government support have helped to overcome initial cultivation difficulties, and conditions are improving.
Wholesale prices have also been on a downward trend recently, and stability is anticipated after the kimchi-making season begins in earnest post-November.
The production capacity for supplementary ingredients such as red chili powder, onions, green onions, ginger, and pear is ample due to increased output, and their current prices remain lower than last year’s levels. Although domestic garlic production has decreased slightly, increased imports are expected to ensure stable supply.
Furthermore, the consumer prices for seafood products like natural sea salt, salted shrimp, and anchovy sauce are maintaining lower levels than last year, and stability is expected to continue via government reserve releases and discount events.
Minister Song Mi-ryeong stated, “The supply conditions for kimchi ingredients are generally favorable this year. Cabbage had significant supply concerns due to summer heatwaves, but aggressive growth management efforts by farmers have ensured stable supply.” She pledged to “make every effort, in coordination with relevant ministries and agencies, to lessen consumer burdens during the kimchi-making season.”
Minister Kang Doo-hyung from the Ministry of Oceans and Fisheries also added, “We will release up to 5,000 tons of government-stored natural sea salt at low prices to the market and supply kimchi-related ingredients like salted shrimp, anchovy sauce, and oysters at up to 50% discounted prices to help mitigate the burden on grocery shopping during kimchi season.”