Refer Report
As the price of cabbage soared due to the heatwave that lasted throughout the summer, an increase in the number of consumers looking for packaged kimchi instead of making it themselves was found.
According to Daesang on the 26th, sales of Jongga Kimchi, the No. 1 packaged kimchi brand, increased by 14% in August compared to the same month last year. This is the highest ever, surpassing sales in 2022, when cabbage prices soared due to heat waves and typhoons. Sales of cabbage kimchi products such as dried kimchi and seasoned kimchi increased by 17% during the same period. CJ CheilJedang’s bibigo cabbage kimchi sales also increased by 12% compared to the same month last year.
As the demand for packaged kimchi rapidly increased, some distribution channels even sold out kimchi products or stopped selling them. At Daesang’s in-house mall ‘Jungwon e-Shop’, as of this afternoon, 36 of the 38 cabbage kimchi products except for the two types of ‘Jongga Flavored Kimchi’ were temporarily sold out. At CJ CheilJedang’s ‘CJ The Market’, 13 out of 29 cabbage kimchi products were sold out.
According to the Korea Agro-Fisheries and Food Trade Corporation (aT), the average retail price of a head of cabbage (product) was 9,383 won as of the 25th, 52% higher than a year ago. Due to the heat wave and drought in the highland cabbage growing areas, shipments decreased significantly and prices rose.
Reporter Oh Hyeong-ju ohj@hankyung.com
Source: Korean