"Poor Crop Leads to Price Increase" ... Lotte Mart Releases 630 Tons of CA-Stored Apples

Maintaining Taste and Nutrition at Harvest in Temperature and Humidity Controlled Storage

[Asia Economy Reporter Jo In-kyung] Lotte Mart announced on the 18th that it will sell 'Freshly Picked Apples (4-6 pieces)' at about 20% cheaper than the market price, at 9,980 won, at all stores for one week from the 22nd to the 28th.

As apple prices have recently risen significantly compared to the average year, Lotte Mart is supplying about 630 tons of apples harvested last fall and stored in the CA (Controlled Atmosphere) storage at Lotte Fresh Quality Innovation Center. CA-stored apples are preserved using an advanced method that controls temperature, humidity, oxygen, and carbon dioxide in the air to suppress aging of agricultural products and maintain the taste and freshness at the time of harvest.

According to the Korea Agro-Fisheries & Food Trade Corporation (AT), as of the 16th, the wholesale price of Fuji apples (10 kg) averaged 62,900 won, a 60.5% increase from 39,200 won around the same time last year. The retail price is also 33,800 won (10 pieces), 66.5% more expensive than 20,300 won a year ago. The distribution industry explains that prices continue to rise due to a sharp decline in apple quality and production caused by the longest rainy season and consecutive typhoons last summer.

Typically, apples are most abundant and cheapest in October, the harvest season. From around April of the following year, apples with superior freshness from storage are mainly distributed, so prices are higher but quality tends to decline.

Lotte Mart offers high-quality apples with the taste and nutrition of the harvest season alive even in spring through CA storage, at prices similar to the harvest season. After first releasing 370 tons of CA-stored apples in 2018, it sold out 509 tons each in 2019 and 2020, and has prepared even more this year.

Kim Young-gu, Head of Fresh Food Division 1 at Lotte Mart, said, "We are offering CA-stored apples harvested in autumn that maintain freshness and taste at about 20% cheaper than the market price," adding, "We expect to stabilize the price of the national fruit and reduce the burden on customers' shopping baskets."