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Korean government introduced measures to curb rising fruit prices

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According to South Korea's "World Journal" reported on 19 February, according to the South Korea's Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corporation, taking 16 February as a benchmark, the average price of apples (Fuji 10) for 29,715 won, compared with the same period last year rose 28.8%. Pears rose by 27.8 per cent and citrus by 62.8 per cent. The main reason for the surge in fruit prices is the unusual weather last year and the harsh quarantine conditions for importing fresh fruits such as apples and pears.

 

Due to the high price of fruits, the South Korea's Ministry of Agriculture, Food and Rural Affairs plans to invest 16.6 billion won to provide continuous discounts for fruits such as apples and pears, in addition to supporting the wholesale price of vegetables such as tomatoes and cucumbers. In addition, imports of frozen fruits hit a record high last year, with 64,000 tonnes last year, a 6% increase from the previous year, according to information from the "Agricultural Outlook 2024" by the Korea Rural Economics Research Institute (KRERI). According to analyses, there has been an increase in the number of consumers buying frozen fruits due to their relatively low price and ease of storage.


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