Hypermarkets are making an all-out effort to stabilize fruit prices in South Korea

Fruits

South Korea

Regulation & Compliances

Market & Price Trends

Published Mar 20, 2024

Tridge summary

South Korean supermarkets E-Mart, Lotte Mart, and Homeplus are implementing measures to control rising fruit prices, including agricultural product discount coupons, unit delivery price support, and reducing their own profit margins. They are also expanding sales of cheap imported fruits with quota tariffs applied. This strategy has led to a significant increase in sales from January to February, with sales of oranges and bananas seeing the most significant growth. However, despite an increase in apple sales, actual revenue decreased due to high prices.

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

(Seoul = Yonhap News) Reporter Seong Hye-mi = While the government is fully investing its budget to control the soaring prices of fruits such as 'golden apples', domestic large supermarkets have significantly increased sales of cherries, kiwis, and mangosteens, making an 'all-out effort to stabilize prices' Open '. According to the distribution industry on the 20th, the three large supermarkets, including E-Mart, Lotte Mart, and Homeplus, participate in agricultural product discount coupons (farm discount) and unit delivery price support for each item hosted by the Ministry of Agriculture, Food and Rural Affairs, while checking the market price at the production site on a daily basis and making their own profit margins. Efforts are being made to lower fruit prices by reducing (margins). In addition to continuing to hold ugly fruit sales events, large supermarkets are dispersing the demand for apples and pears by holding discount events for domestically produced fruits such as ...

Source: Yna