Analysis of Factors Affecting Vegetable Price Fluctuation: A Case Study of South Korea

Yiyang Qiao, Minseong Kang, Byeong Il Ahn

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

The fluctuation of vegetable prices in recent years underscores the need to identify contributing factors and develop effective policies. In order to examine the factors affecting the fluctuation of vegetable prices, this paper uses a structural model constructed by demand, supply, import, and export functions to decompose price variance, and also performs a numerical simulation to generalize the results. We studied the Korean vegetable market, and selected cabbage, radish, dried red pepper, garlic, and onion as research objects. The results indicates that variability of domestic production is the primary factor that influences price fluctuations in the Korean vegetable market. In contrast, our analysis revealed that demand, import, and export had a limited impact on price fluctuations in the Korean vegetable market, except for dried red pepper and onion.

Original languageEnglish
Article number577
JournalAgriculture (Switzerland)
Volume13
Issue number3
DOIs
Publication statusPublished - 2023 Mar

Bibliographical note

Publisher Copyright:
© 2023 by the authors.

Keywords

  • Korea
  • price fluctuation
  • price stabilization policy
  • structural model
  • vegetable price

ASJC Scopus subject areas

  • Food Science
  • Agronomy and Crop Science
  • Plant Science

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