South Korea: Summer fruit prices at large marts stabilize; peaches are 25% cheaper than last year

Published Aug 11, 2024

Tridge summary

South Korean supermarkets E-Mart and Lotte Mart have reported a stabilization in fruit prices, with grapes and peaches showing the most significant decreases. This is due to increased production of these fruits, with grape prices expected to fall by over 5% and peach prices by 8.2%. However, a potential heavy rainfall could affect quality. Despite concerns about high temperatures affecting apple production, prices have decreased by 12.8% for Fuji apples. However, stored pears from the previous year remain expensive. Large marts are offering special Chuseok gift sets at reduced prices.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Seoul = Yonhap News) Reporter Seong Hye-mi = Fruit prices are showing signs of stabilization, with the retail price of peaches dropping 25% this month compared to last year. According to E-Mart and Lotte Mart on the 11th, the prices of grapes and peaches, which are considered representative fruits in August, are showing signs of downward stability. Grape production this month is expected to increase 6% compared to the same period last year, and prices of Campbell Early, Kyoho, and Shine Muscat are all expected to fall by more than 5%. Peach prices are also showing signs of weakness as production increased 8.2%. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) Agricultural Product Distribution Information (KAMIS), Campbell Early grapes (1kg) were 12,069 won, down 7.6% from last year, and Baekdo peaches (10 pieces) were 17,758 won, down 24.7% from last year. The price of melons (10 pieces) also fell 16.7% to 26,210 won. Watermelons rose 3.6% to 29,685 won ...
Source: Yna
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