In marketing year 2021/22 (July – June), Korea’s fresh apple production is projected to increase by 13 percent to 477,200 MT mainly due to increased yield and planted area. As a result of favorable weather conditions during the flowering and fruit growing seasons, the average apple yield is expected to increase by 6.8 percent to 1,427 kilograms per 0.1 hectares.
Korea’s apple planted area is projected to increase by 5.8 percent to 33,439 ha, driven by higher prices in the previous year (MY 2020/21) following the overall reduction of major fruit (apple, pear, peach, grape, and persimmons) production last year.
In 2020/21, Korea’s apple production decreased substantially by 21 percent to 422,115 MT due to a four percent reduction in apple planted area and a combination of cold damage during the spring season and excess rain during the summer season. As result, the annual average retail price increased by 31 percent to KRW 5,801 (USD 4.92)/Kg in 2020/21 compared to the previous marketing year.
Pricing
Abundant local apple (and pears and late-maturing citrus) production in the 2021/22 season will drive market prices down by around 15 to 20 percent. In September 2021, the average consumer price for apples decreased by 33 percent compared to the price of the same month in 2020.
As a result of increased apple production, the market price of fresh apples for storage (for spring and summer seasons of the following year) will stay around 15 to 20 percent lower than the previous year. Koreas’ apple supply in October 2021 increased by 14.5 percent from the previous year.
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