Fruit Prices Like Apples and Pears Up 30% from Last Year... Expected to Rise Further During Seollal Holiday

Ministry of Agriculture, Food and Rural Affairs to Import 1.12 Million US Eggs in Preparation for AI

With the prices of apples and pears rising by more than 30% compared to last year, it is expected that the prices of major fruits will remain high for the time being.

On the 1st, the Ministry of Agriculture, Food and Rural Affairs (hereinafter 'MAFRA') forecasted that the prices of major fruits such as apples and pears will continue to stay at high levels. In particular, the prices of apples and pears are likely to increase further ahead of the upcoming Lunar New Year holiday (February 9?12), when demand rises.

According to the agricultural product distribution information from the Korea Agro-Fisheries & Food Trade Corporation (aT), as of the 29th of last month, the retail prices of apples and pears were 34.0% and 32.6% higher, respectively, compared to a year ago. This is due to reduced production caused by weather disasters such as concentrated heavy rains last summer. The production volumes of apples and pears decreased by 30.3% and 26.8%, respectively, compared to the previous year. The production of apples and pears significantly declined due to reduced cultivation areas combined with damage from pests and cold weather.

On the 27th, a customer visiting Hanaro Mart Yangjae Branch in Seocho-gu, Seoul, is selecting apples. Photo by Jinhyung Kang aymsdream@

Additionally, since apples and pears are fruits with high demand during the Lunar New Year, their prices may rise further. Therefore, MAFRA plans to supply contract-grown quantities until before the Lunar New Year holiday and continue supporting the shipment of irregularly shaped and small-sized apples previously used for processing. The ministry will also continue discount sales support and expand supply by applying tariff quotas on imported fruits.

Among vegetables, the price of green onions (daepa) is showing strength. As of the 29th of last month, the retail price of green onions was 5,235 KRW per kilogram, which is a 53.8% increase compared to a year ago. This is due to a decrease in shipments from Jeonnam, a representative green onion production area, caused by recent cold waves and heavy snowfall.

In addition to green onions, cucumbers, pumpkins, and green chili peppers also saw reduced production due to adverse weather conditions, resulting in high prices. However, since temperatures have returned to normal levels since late last month, the shipment volumes of these vegetables are expected to increase, and the previously risen vegetable prices are likely to stabilize gradually.

MAFRA stated that the supply of livestock products is currently stable. However, in preparation for possible egg supply instability due to the spread of highly pathogenic avian influenza (AI), 1.12 million fresh eggs from the United States will be imported.

Furthermore, considering the increasing burden of living expenses on low-income households, MAFRA will freeze the government rice sales prices for vulnerable groups this year. A MAFRA official explained, "Although there are factors for an approximately 8% price increase compared to last year due to rising purchase costs, the decision to freeze prices was made to alleviate the burden of living expenses."