South Korea: Fruits worth gold, consumption decreases by 19% in 15 years

Published Mar 11, 2024

Tridge summary

Apple prices in South Korea have surged by 71% from last year due to a reduction in cultivation area and production, attributed to aging farmers and abnormal climate conditions. The Korea Rural Economic Institute forecasts these high prices to persist for at least another four months. Additionally, per capita fruit consumption has dropped by 19% over the past 15 years, and vegetable prices are also expected to stay high, leading to concerns about agflation. The Minister of Agriculture, Food and Rural Affairs has stressed the need for government, distribution, and food companies to actively participate in stabilizing prices.

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Original content

‘Golden Apples’ Even at Discount Events Citizens are picking apples at a large supermarket in Seoul on the 10th. Apple prices last month were higher than a year ago It continued its high-altitude march, jumping 71.0%. Apple prices are expected to remain high for at least the next four months. The Korea Rural Economic Institute Due to the aging of farmers, the apple cultivation area is expected to decrease by 8.6% from 33,800 ha this year to 39,000 ha in 2033. News 1 It was found that the amount of fruit consumed annually by one Korean has decreased by nearly 20% compared to 15 years ago. Fruit prices, which rose by the largest amount in 32 years last month, are expected to continue their high streak this month as well. Vegetable prices are also expected to remain high, raising concerns about agflation, in which rising agricultural prices raise overall prices. According to the Ministry of Agriculture, Food and Rural Affairs’ ‘Key Statistics on Agriculture, Food and Rural ...

Source: Donga