South Korea: Lunar New Year fruit gift set prices rise by up to 60%

A fruit gift set is displayed at a large supermarket in downtown Seoul. 2024.01.14 Seoul = Newsis As fruit prices continue to soar, the price of New Year's holiday fruit gift sets sold at major department stores and hypermarkets has risen by up to 60% compared to last year. With the Lunar New Year less than a month away, fruit prices may rise again, putting holiday prices on alert. According to the Korea Agro-Fisheries and Food Trade Corporation (aT) on the 14th, as of the 9th, the retail price of apples (Fuji) was 29,807 won and 10 pears (reported) were 34,015 won, up 37.8% and 32.6%, respectively, from a year ago. The reason why apple and pear prices rose so much is because production decreased by 30.3% and 26.8%, respectively, compared to the previous year due to abnormal weather conditions such as scorching heat and heavy rain last year. From the 10th, the prices of apples and pears began to stabilize and fell to 26,000 won and 31,000 won, respectively, as of the 12th, but the ...