I never thought a watermelon would cost 30,000 won for one (7 kg), even though I heard the price went up. I was thinking of buying one due to the sweltering heat, but when I saw the price tag, I had no choice but to put it back down on the shelf.
At 10:35 a.m. on the 11th, at Mangwon Market in Mapo District, Seoul, Kim Won-hee (57) said, "Even for small watermelons, they are asking for 23,000 to 25,000 won." On that day, Kim bought a box of fully ripe tomatoes (5 kg) at half the price of watermelon and eight melons.
As the heatwave continues, prices for summer agricultural products are soaring. Watermelon is a prime example. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), the retail price for one watermelon is 29,115 won as of that day. This is a 36.46% increase compared to the same period last year and a 38.5% rise compared to the average year.
Along with watermelon, melons and peaches, which are also considered representative summer fruits, are showing double-digit increases compared to last year. The retail price for ten melons is 16,168 won, rising 15.11% from the same period last year. Compared to the average year, it is up 8.5%. The retail price for ten white peaches is 23,097 won, increasing by 10.34% compared to last year. Compared to the average year, it rose by 10.3%.
Choi Mo (38), who runs a fruit store at Mangwon Market, noted, "No one is even seen during the day because it's so hot," adding, "The prices of watermelon and melons are so high that it seems people aren't buying as much as last year. Seven out of ten people only ask about the prices without buying." Choi offered a discount of 3,000 won on a 25,000 won watermelon (7 kg), but mentioned that there are no customers due to the heat.
The situation at the fruit market in Yeongdeungpo District, Seoul, at 2 p.m. that day was no different. Park Young-ja (66), who has been selling fruits and vegetables for ten years, said, "Large watermelons over 8 kg are priced between 30,000 and 35,000 won, but customers are surprised by the posted prices, so I took down the price tags." Park added, "Since it was hot today, there were no customers in the market, and I couldn't sell any fruits."
The big supermarket was no different. At Homeplus in Mapo District, Seoul, a 7 kg watermelon was sold for 29,900 won that day. An office worker, Son Ji-yeon (30), who purchased a watermelon, said, "I bought it 5,000 won cheaper with a membership card discount, but even this is on the expensive side." A housewife, Park Mo (57), met at Hanaro Mart in Seocho District, remarked, "The price of watermelon is so high that I can't even eat it once this summer."
Industry perspectives suggest that the rise in watermelon prices is attributed to the early end of the rainy season compared to the average year, leading to heightened demand, coupled with poor harvests due to abnormal weather causing a decrease in supply compared to last year.
Park In-hong (39), who runs a fruit shop at Gyeongdong Market in Dongdaemun District, Seoul, explained, "It is still early summer, so there isn't much watermelon available from producers," adding, "Due to the excessive heat, there has been an increase in 'melted watermelon' where the flesh completely disintegrates. Although many seek watermelons, there is a shortage of good ones."
A representative from a major supermarket stated, "The rainy season ended earlier than usual, and with the continued high heat and dry weather, the prices of fruits and vegetables have soared," adding that due to the ongoing heatwave, concerns are rising about quality decline and supply disruption, leading to enhanced monitoring of production areas.
In this context, some in the industry predict that with 12.2 trillion won, or 39.4% of the 31.8 trillion won supplementary budget set to be allocated for the 'livelihood recovery support fund' aimed at stimulating consumption, the rise in fruit prices is likely to continue for some time.
A source within the industry stated, "We are preparing supply measures in response to the unstable supply of agricultural products hit hard by abnormal weather like heatwaves," noting that if the livelihood recovery support fund is released, there is a possibility of further price increases, which they are keeping a close watch on.
Lee Jong-woo, a professor of business administration at Ajou University, noted, "The skyrocketing prices are due to a collapse in the balance of supply and demand," adding, "The drastic price hikes of summer fruits like watermelon may be due to weather effects, but it is also time for the government to consider long-term price management and the establishment of supply strategies and measures."