Wholesale Price of Hongro Apples Soars 171% in One Year While Retail Price Drops 0.4%
Government Expands Contract Shipment Volume and Holds Chuseok Discount Event
Vice Minister of Agriculture Visits Agricultural and Fishery Wholesale Market to Inspect Auction and Shipment of Seasonal Fruits
Ahead of the Chuseok holiday, retail prices for apples and pears are showing a downward stabilization trend. The government attributes this to the effect of utilizing contract shipment volumes from Nonghyup to supply more than three times the usual amount and expanding discount support.
On the early morning of the 18th, Han Hoon, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, visited the Garak-dong Agricultural and Marine Products Wholesale Market in Seoul to check the supply and demand situation of Chuseok seasonal products.
According to the Ministry of Agriculture, Food and Rural Affairs, due to accumulated damage from weather disasters such as low temperatures since March and pest infestations, the production of major fruits has decreased, resulting in high wholesale prices for fruits such as apples and pears during this year's Chuseok period. However, consumer price increases have been limited thanks to government policy efforts and cooperation from the distribution industry.
In fact, the wholesale price for 10 kg of Hongro apples rose 170.7% year-on-year to 67,107 KRW, but the retail price (for 10 apples) decreased by 0.4% to 29,595 KRW. Similarly, the wholesale price for 15 kg of Singo pears increased by 31.0% to 46,347 KRW compared to the previous year, while the retail price (for 10 pears) dropped by 26.9% to 29,741 KRW.
Earlier, through the 'Chuseok Livelihood Stabilization Measures' announced at the end of last month, the government increased the supply volume to more than three times the usual by utilizing Nonghyup contract shipment volumes, concentrating shipments at wholesale markets, and expanding discount support. The contract volume for apples was increased to 15,000 tons, 3.4 times the usual, and for pears to 13,000 tons, 3.3 times the usual.
Additionally, the government invested a record-high 67 billion KRW in discount events, supporting 30-40% discounts both online and offline on high-priced items such as cabbage, radish, apples, pears, and onions.
Vice Minister Han, who visited the site that day, said, "Despite difficulties in supply and demand due to reduced fruit production such as apples caused by this year's weather disasters, the efforts of many related parties supplying seasonal products from early morning have made timely supply possible." He added, "Please fully utilize all available capabilities such as securing cargo volume and shortening shipment times, and manage thoroughly to ensure smooth supply until the holiday."
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