South Korea: Looking at the price of imported fruit

Published 2022년 11월 24일

Tridge summary

The market prices for imported tropical fruits such as avocados, grapes, bananas, mangoes, lemons, and Australian oranges have experienced significant increases this winter, with avocado prices rising by 27.6% and grapes by 22.5% compared to last year. This surge in prices is attributed to factors such as consumption stagnation, high exchange rates, and high oil prices. The rise in prices is also due to a decrease in imports due to the sluggish economy, creating a vicious cycle. In contrast, the prices of domestic seasonal fruits like persimmons and pears have seen a decline. The high exchange rate used in the import process has contributed to the increase in costs, and the sluggish economy has led to a reduction in imports, making it challenging to stabilize imported fruit prices by the end of the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Avocados have gone gold. According to hypermarkets on the 23rd, the market price of 5.5 kg of avocado this month was 30,000 won, up 27.6% from the same period last year (23,500 won). Imported grapes, which were particularly popular in the winter, also saw a significant jump in price. The price per 8 kg of grapes imported from the U.S. and Chile has increased by 22.5 percent from 40,000 won last year to 49,000 won. From avocados to bananas and mangoes, the price of tropical fruits is rising one after another this winter. Analysts say that this is because of the triple high impact of “consumption stagnation, high exchange rates, and high oil prices.” ○ Imported fruits hit by sharp exchange rate surge According to the Korea Agro-Fisheries & Food Trade Corporation, as of the 22nd, the wholesale price of 13 kg of imported bananas was 30,180 won, up 21.3% from a year ago (24,860 won). The price of 5 kg of imported mango rose 3.4 percent from 50,780 won to 52,520 won. Prices for imported ...

Source: Donga