Blueberry prices drop in S. Korea
The fruit was once a high-yield crop due to its nutritional benefits to the eyes.
However, with more farmers joining the bandwagon and free trade agreements propelling blueberry imports, the increasing supply against steady demand is pushing down overall prices.
A blueberry farmer reported that the berries’ price per kilogram dropped three-quarters from a high of 80,000 won ($69) to less than 20,000 won in the last five years.
The South Jeolla provincial government reported rapid growth of blueberry cultivation field from 131 hectares in 2011 to 333 hectares in 2016.
Domestic cultivation of the foreign fruit only fully started around 2007 and 2008.
The price is not expected to fall further, due to the Korean consumers’ preference for domestic produce against imported goods. Meanwhile, the provincial government said that subsidies to the farmers affected by free trade agreements will be made this year for the first time.
Source: koreaherald.com
