South Korea's spicy Kimchi Index to rival Big Mac

SEOUL (Reuters) - If the Economist magazine's Big Mac Index is too fattening, South Korea may have the answer with a Kimchi Index tracking the cost of ingredients in the pungent cabbage dish that is gaining fans worldwide as a healthy "superfood".

Kimchi-making season has just started in the Asian country and a shortage of locally produced cabbage has been enough to trigger hand-wringing editorials and the import of what Koreans regard as inferior Chinese cabbage to make their national dish.

South Korea's agriculture ministry launched the index on Friday, saying it would be published weekly to alert consumers if prices proved to be "seriously volatile".

"By having a Kimchi Index, consumers can then easily figure out when is the best time to make kimchi," said Choi Jung-rok, director of the ministry's horticulture industry division.

The Big Mac Index, designed by Daniel Ng Yat-chiu, is used as a measure of purchasing power parity across the globe by comparing the cost of a simple and uniform product - a burger from McDonald's Corp - in various countries.

The South Korean ministry said its index could also be used overseas, where kimchi is gaining traction.

U.S. First Lady Michelle Obama recently tweeted her own kimchi recipe on her @FLOTUS Twitter account, prompting an avalanche of headlines in South Korea, which uses cultural products ranging from pop music to television dramas to promote the country's image and powerful exporting companies.

South Koreans consume some 2 million tons of kimchi a year.

The index, which measures the cost of 13 ingredients to make kimchi, is based on the average price over three years.

Friday's index level was 91.3, the lowest since 2009.

(Reporting by Meeyoung Cho; Editing by John O'Callaghan and Clarence Fernandez)

Most Viewed

  • Saif-Kareena Kapoor Khan And Soha-Kunal Khemu’s Wild Holiday
    Saif-Kareena Kapoor Khan And Soha-Kunal Khemu’s Wild Holiday

    Actress Kareena Kapoor Khan with hubby Saif Ali Khan spend their quality time with newly wed couple Soha Ali Khan and Kunal Khemu. The couples are in Nagarhole, spending their weekend staying over at Saad Bin Jung’s resort, The Bison. In the picture, Kareena, Saif, and Soha Ali Khan are chilling out in open cottage, assuming Kunal Khemu clicking their picture, as he is missing. Kunal Khemu tweeted, On the early morning safari at Nagarhole wildlife reserve through the mist we spotted this …

  • Ranbir Kapoor goes gown on his knees to propose to Deepika Padukone
    Ranbir Kapoor goes gown on his knees to propose to Deepika Padukone

    All the eyes are on Ranbir Kapoor and his ex beau Deepika Padukone who have been shooting together for their upcoming film Tamasha. Ranbir Kapoor and Deepika Padukone were shooting for a romantic scene, where Ranbir had to go down on knees and propose Deepika Padukone. You can see in the pictures, Ranbir Kapoor goes down on Knees, while Deepika Padukone gets surprised on it. The film stars Ranbir Kapoor and Deepika Padukone and is directed by Imtiaz Ali. …

  • Sussanne Khan Spent Rs 16 Crore On A Penthouse In Pune?
    Sussanne Khan Spent Rs 16 Crore On A Penthouse In Pune?

    Hrithik Roshan‘s ex-wife Sussanne Khan has bought an expensive property for herself outside Mumbai city. According to recent reports, Sussanne Khan bought a beautiful penthouse in Pune for about 16 crore! The penthouse is located in Trump Towers, Kalyani Nagar and the celebrity interior decorator has bought the property only for investment purpose. A source was quoted saying, “Yes, she has purchased a penthouse in Pune. It is located in Trump Towers, Kalyani Nagar. …

  • Check Out: Alia Bhatt’s Transformed Vanity Van
    Check Out: Alia Bhatt’s Transformed Vanity Van

    Bollywood’s cutest actress Alia Bhatt is too excited and happy for her new personalized Vanity Van. The actress has recently got a new makeover for her vanity van. Alia Bhatt who calls her vanity van as a second home tweeted with a picture, “My second home, my vanity van !!! Thank you amritamahalnakai for transforming my van !! I love you to… Student Of The Year actress got her old vanity van customized into new according to her taste by Amrita Mahalnakai. As you can see in the picture just …

  • Beef Ban Takes Bollywood By Storm!
    Beef Ban Takes Bollywood By Storm!

    Bollywood celebrities are now coming forward and voicing their opinion on different matters. First it was the controversial AIB Roast, and now it’s the ‘Beef Ban’ that took the Internet by storm. To exercise their right to freedom of speech, our Bollywood celebrities took to their Twitter accounts and posted their views on the recent ‘beef ban’ sanctioned by Maharashtra government. Mumbai being the hub of most of Bollywood celebrities who opt to dine as they wish this news came as a shocker. …

  • Manoj Bajpayee turns gay professor; sports unkempt look for ALIGARH
    Manoj Bajpayee turns gay professor; sports unkempt look for ALIGARH

    The first look of Manoj Bajpayee's character in National Award-winning filmmaker Hansal …

  • Yummy Mummy Aishwarya Rai Bachchan redefines hotness!
    Yummy Mummy Aishwarya Rai Bachchan redefines hotness!

    Aishwarya Rai Bachchan doesn't cease to amaze us with her beauty and with her recent photo shoot …

  • 'Yeh Rishta Kya...' 10-year leap delayed

    Mumbai, March 4 (IANS) An impending 10-year leap in the story of TV show "Yeh Rishta Kya Kehlata Hai" has been delayed as the show's producers are yet to find a fresh face for the character Naksh. According to a source, the show had to postpone the planned 10-year leap to make time to zero in on apt casting for Naksh, the 20-year-old son of Naitik (Karan Mehra) and Akshara (Hina Khan). …

Loading...