South Korea has been hit with an unusual heatwave in mid-May, driving up the average retail price of watermelons to 30,000 won, a 25% increase from last year. The main reason for this surge is the shortage of supply from major production areas in the south and a lack of imported fruits.
Supply shortage: Only a few production areas, such as South Gyeongsang Province and North Jeolla Province, are able to supply watermelons. The situation may ease in June when Gangwon Province and other areas start harvesting.
Reduced imports: The supply of alternative fruits like oranges and kiwis has also decreased due to poor harvests overseas and rising transportation costs.
Variable factors: The price of watermelons skyrocketed last July, and this summer’s weather will be a crucial factor in determining the price.
