South Korea: Fruit and vegetable prices emergency due to cold wave and heavy snow

Fruits

Vegetables

South Korea

Sustainability & Environmental Impact

Market & Price Trends

Published Jan 3, 2024

Tridge summary

Fruits and vegetable prices in South Korea are skyrocketing due to poor harvests caused by bad weather, particularly a cold wave and heavy snowfall in December. The cost of items such as apples, pears, tangerines, sweet persimmons, and various vegetables have increased significantly compared to the previous year. To alleviate the burden on consumers, the government has applied tariff quotas to imported fruits and is conducting discount events at large supermarkets.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The photo shows citizens choosing tangerines at a large supermarket in Seoul on the 26th. 2023.12.26/News1 ⓒ News11The prices of fruits and vegetables are skyrocketing due to the cold wave and heavy snowfall that continued in December. In particular, the burden on ordinary people is expected to increase when demand increases ahead of the Lunar New Year holiday. According to the Korea Agro-Fisheries and Food Trade Corporation (aT) on the 3rd, the consumer price of apples (10) as of the 2nd was 29,672 won, a 33.8% increase compared to the previous year. The price of 10 pears also soared by 32.5% compared to the previous year, reaching 33,911 won. Tangerines (10 pieces) also rose 25.8% to 4,213 won compared to last year, which was 3,350 won, and sweet persimmons (10 pieces) became expensive by a whopping 41.1% to 17,651 won. ‘The same goes for vegetable prices. During the same period last year, the consumer price of one head of cabbage, which was 3,837 won, rose 8.1% to 4,147 won, ...

Source: Donga