South Korea sees imported fruit prices skyrocket

On October 1, the Korean won ended at 1,441 per dollar; this was a 13-year low against the US greenback. This caused the price for a bunch of bananas to increase from the 3,000 won range to 5,480 won at large supermarkets in Seoul last week.

The wholesale price of imported bananas the day before stood at 31,100 won ($2.08) per 13 kilograms, up 10.2 percent from 28,232 won a month ago. Compared to last year's wholesale price, the price of the fruit jumped 23.3 percent in the same period.

In addition to rising production and logistics costs, the soaring exchange rate of the dollar against the won played a critical role in the skyrocketing price of imported fruit. The prices of mango and pineapple also increased nearly 10 percent last month. More and more, local supermarkets are also turning their attention to locally produced fruit for their stable supply and prices.

Source: koreatimes.co.kr


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