Prices continue to rise! South Korea extends tariff exemption period for 10 imported fruits

Recently, the South Korean government announced that it would extend the tariff exemption period for 10 kinds of imported fruits until the end of September. Bananas, pineapples, mangoes, grapefruits, kiwis, avocados, mangosteens, cherries, durians and citrus fruits will continue to enjoy zero import tariffs until September 30. Originally, the tariff exemption period for the above fruits lasted until the end of June, but in order to cope with food price inflation, the Ministry of Finance announced that it would extend the policy. South Korean Deputy Prime Minister and Minister of Finance and Economy Choi Sang-mok said that consumer prices, a key indicator of inflation, rose 2.7% year-on-year in May, although it was slightly lower than 2.9% last month, but after reaching a peak of 3.1% in March, Choi Sang-mok said that the battle to curb inflation is far from over. It is worth noting that the South Korean government announced measures to expand tariff exemptions to 28 kinds of ...