Harvest Decrease but Demand Surges
Prices Up 30% Compared to Last Year
The price of tangerines, the nation's winter fruit, is soaring. It is said to have reached the highest price since the related price survey began in 1997.
According to Jeju Island on the 22nd, the average price (wholesale price) of open-field Jeju tangerines this year is between 10,000 and 11,000 KRW per 5 kg, about 30% higher than last year's average price of 8,000 to 8,500 KRW. This marks the highest price since the tangerine price survey began in 1997.
The reason for the tangerine price's continuous rise is that supply has decreased while demand has surged. This year, although the sweetness of tangerines is high, production volume is 426,000 tons, down 1% from the previous year (429,000 tons). Additionally, poor harvests of other fruits have led more consumers to seek tangerines.
In this regard, Oh Young-hoon, Governor of Jeju, visited the auction site at the Garak Agricultural and Marine Products Wholesale Market in Seoul the day before and said, "This year is a meaningful year as it recorded the highest price since the tangerine price survey began," adding, "We will ensure that Jeju tangerines continue to receive the nation's love by distributing excellent quality tangerine varieties and thoroughly blocking the distribution of tangerines that do not meet standards."
At the following meeting, Park Sang-heon, CEO of Korea Fruit, said, "With the shipment of high-quality, high-sweetness tangerines maintained, Jeju tangerines have risen to become the king of winter fruits," and requested, "While it is good to provide Jeju tangerines directly to consumers through online channels, since the public wholesale market is where the national standard prices are presented, we hope that high-sweetness tangerines will be supplied steadily."
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