Onion Prices Plunge, Farmers Voice Concerns; Demand Measures Against Chinese Imports

Onion prices are plummeting as this year's harvest begins. As of the end of last month, the average wholesale price for a 15kg box of new onions stood at approximately 11,400 won, more than halving compared to last year.

The price collapse has led to the cancellation of 'standing crop' deals between farmers and merchants, throwing the market into chaos. With inventory levels 15% higher than in previous years, the burden of operating costs is mounting due to rising electricity prices and extended storage periods.

Onion farmers point to the surge in imported Chinese onions as the primary driver of the price drop. Chinese onion imports, which stood at 12,000 tons in 2015, have increased by more than tenfold to 140,000 tons this year. While domestic onion production has remained relatively stable, the mass import of Chinese onions during the domestic harvest season is driving down prices.

Farmers are appealing for government intervention to regulate the timing of Chinese onion imports. The head of the Changnyeong branch of the Onion Producers' Association criticized the government for continuous imports without proper verification, stating that the government must establish measures to address the excessively low prices.