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2 clusters · 2 sources · 29 days · First seen · Last updated

South Korean agricultural production and market stability

Overview

South Korean agricultural sectors are navigating challenges related to climate instability and market volatility. A report from the Korea Rural Economic Institute (KREI) indicates that facility horticulture farmers are experiencing significant production instability due to extreme weather, including heatwaves and heavy rainfall. While many farmers face these risks, the adoption of high-cost smart farm technologies remains limited, with initial investment costs cited as a primary barrier for certain crops.

In addition to climate risks, market stability is being impacted by fluctuations in production yields. Apple production is projected to increase by 7.4% compared to the previous year, a surplus expected to drive wholesale prices down. Similarly, highland potato production is expected to rise by 7.4%. To manage these surpluses and mitigate supply volatility, the Korea Agro-Fisheries & Food Trade Corporation (aT) has announced plans to purchase 1,300 tons of potatoes to help stabilize consumer prices.

Entities

Korea Rural Economic Institute · Korea Agro-Fisheries & Food Trade Corporation · Cheongsong · Pyeongchang

Timeline

  1. [BUSINESS] 2 sources
    South Korean farmers face price drops amid high apple and potato yields

    Increased apple and potato production in South Korea is driving concerns over falling farm incomes and market volatility, prompting government measures to stabilize supply and prices.

  2. [BUSINESS] 2 sources
    South Korean farmers face climate risks amid slow smart farm adoption

    South Korean facility horticulture farmers face rising production instability from extreme weather, yet high costs hinder the adoption of advanced smart farm technologies for crops like strawberries and tomates

Sources

imaeil.com · namdonews.com