In February 2024, South Korea experienced a significant increase in fruit prices, recording a 40.6 percent inflation rate, the highest since data collection began in 1991. The national statistical service highlighted that apple prices soared by 71.6 percent due to reduced production from unfavorable weather conditions, making the cost of an apple on Coupang approximately 9,000 won ($6.8). Similarly, pear prices surged by 61.1 percent, with other fruits like tangerines, watermelons, and strawberries witnessing considerable hikes of 78.1 percent, 51.4 percent, and 23.3 percent, respectively.
The escalation in fruit prices has significantly impacted consumers and business operators. One fruit juice store owner, shared the difficulties in managing the increased costs without burdening customers. The Ministry of Agriculture, Food and Rural Affairs attributed the price increase to a decline in fruit production in 2023, caused by prolonged cloudy weather. Despite the challenges, importing fruits is not considered a feasible solution due to the potential risk of introducing pests and diseases. Efforts are being made to expand supply and offer discounts on agricultural products, with a 69 billion won ($52.6 million) budget allocated for supporting discounted sales this year.
Source: m.ajudaily.com
Photo source: Dreamstime.com
