South Korea: Emergency on Jeju’s tangerine export

Published 2022년 11월 28일

Tridge summary

Due to the ongoing conflict between Russia and Ukraine, Jeju Island's tangerine exports to Russia are expected to decrease, dropping to 4,000 to 4,500 tons from a target of 6,000 tons. This decrease could negatively impact the domestic market price as there is concern that the reduced exports could impact supply and demand. The majority of tangerines exported to Russia are larger fruits, which are not as popular in the domestic market. The decrease in exports could also lead to a decrease in the income of tangerine farms due to the price gap between domestic and export markets. There is growing interest in exploring air exports as a way to expand sales channels to regions such as North America and Europe.

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

Original content

This year's target is set at 6000 tons Russian shipments expected to decrease by 4,500 tons Concerns about negative impact on domestic market prices An emergency light was turned on on the way to export tangerines from Jeju. The main export destination for tangerines is Russia, and the protracted war between Russia and Ukraine that broke out in February has led to a decrease in export volume due to poor logistics at local ports. Jeju Island (Governor Oh Yeong-hun) initially set its export target for this year at 6,000 tons, but forecasts that exports to Russia will decrease to 4,000 to 4,500 tons. Accordingly, officials in the citrus industry in the province are concerned that the contraction in exports may adversely affect the domestic market price. Based on last year’s total production (467,293 tons), exports (6,170 tons) accounted for 1.3%, which is not a large amount. This is because there is a concern that the influx will have a negative impact on supply and demand. ...

Source: Nongmin