South Korea’s fruit harvest fails; costs of ancestor worship soar during Spring Festival

South Korea
Sustainability & Environmental Impact
Market & Price Trends
Published Feb 7, 2024

Tridge summary

South Korea is experiencing a significant surge in fruit prices due to a reduction in fruit production last year, caused by frost, hail, and anthrax. The Consumer Price Index for Agricultural, Livestock and Fishery Products rose 8% year-on-year in January, with fruit prices increasing by 28.1%. Apples saw the highest price increase at 56.8%, followed by pears, oranges, and persimmons. This has led to the cost of preparing the ceremonial table for the Spring Festival, a significant tradition in South Korea, reaching a record high. Despite government efforts to stabilize prices, the cost of fruit continues to rise.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Affected by last year's frost, hail and other disasters as well as anthrax during the harvest period, South Korea's fruit production has been greatly reduced this year, and fruit prices have reached the highest level in the world, triggering South Korean people's concerns about the price of the Spring Festival "vegetable basket". The annual Spring Festival in South Korea also starts on the first day of the first lunar month, which is called "Old Jung" among the people, which is equivalent to the Lunar New Year. After the New Year's Eve dinner, Koreans will prepare ceremonial tables for ancestor worship. This year, the cost of preparing the sacrificial table in South Korea Hitting a new all-time high again. According to the Statistics Korea, the Consumer Price Index for Agricultural, Livestock and Fishery Products in South Korea rose 8% year-on-year in January this year, reaching 122.71 points. In particular, fruit prices rose 28.1%, with apples having the highest price increase, ...
Source: Zaobao
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