South Korean Flower Industry Experiences Downturn
Michael Song, Feb. 4, 2016, 10:24 a.m.
The local floricultural industry is facing a downturn despite the annual graduation season, industry sources said Thursday, due to increasing production costs and stagnant consumption. At a high school graduation ceremony held earlier this week at Changwon, South Gyeongsang Province, 90 percent of the flowers that were being sold were artificial ones, mostly made in China.
"Instead of real flowers that wither quickly, artificial ones decorated with candies or chocolates sell much better," a 51-year-old florist, surnamed Kim, said. For gifts, allowances, laptops and smartphones are much more popular than flowers. Meanwhile, flower producers are facing difficulties due to last November's rainy spell and the recent cold wave.
Local farmers said the output decreased by more than 30 percent compared to last year, but the cold weather increased the production cost more than 20 percent during the period. "Roses grow the best in 20 degrees but it is hard to keep the temperature above 17 due to the electricity cost," a 55-year-old florist, surnamed Kim, said.
The depression in the harvest directly affects the consumer price. A bundle of roses, which is the most popular this season, sold for 8,149 won (US$7) at a local flowering plant joint market, 45.6 percent more expensive than 5,597 won last November. Exports to Japan have also become sluggish due to the low yen.