South Korea: Seogwipo's tangerine imports are expected to reach a record high of 850 billion won

Published Feb 16, 2022

Tridge summary

Seogwipo City in Jeju, South Korea, is projected to hit a record high in tangerine imports in 2021 with an estimated 850 billion won, marking a 16.9% increase from the previous year. This surge is primarily due to the high market prices for tangerines and efficient shipment management. The average price per 5kg box of citrus fruits reached the highest in the past decade at 8,602 won. The city attributes the increased prices to the cultivation of high-quality tangerines, clear weather conditions, and the promotion of transplantation projects. However, the ongoing COVID-19 pandemic and a delivery strike during the Lunar New Year have caused distribution disruptions and a decrease in persimmon prices. To boost consumption, Seogwipo City plans to implement a high-quality persimmon shipment incentive project and crack down on the distribution of low-quality persimmons.

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

Original content

(Seogwipo = Yonhap News) Reporter Park Ji-ho = Seogwipo City, Jeju's 2021 tangerine imports are expected to reach an all-time high. Seogwipo City announced on the 16th that it expects to achieve its target of 850 billion won in crude imports of tangerines in 2021 thanks to strong tangerine prices and thorough shipment management. This is a 16.9% increase from Seogwipo City's record-high tangerine revenue of 727.3 billion won (2020). According to a survey by the Jeju Tangerine Shipping Association, the average price of citrus fruits grown in 2021 was 8,602 won per 5 kg box, the highest price in the past 10 years following 9,17 won in 2017. The average price of noji tangerines in the nine major wholesale markets on this day was 8,800 won per 5 kg box, maintaining a high price, up 16% from the previous year. In winter, Onju also traded at the second highest price in the past five years, following 14,813 won in 2017, with the average price of 9 major wholesale markets nationwide so ...

Source: Yna