"Apples and Pears Are Too Expensive"…Government to Import Additional 40,000 Tons of Imported Fruits

Application of Tariff Quotas... Rapid Supply of Additional Volumes in the Second Half of the Year

As fruit prices continue to rise, the government has decided to import more than 40,000 tons of imported fruit to stabilize prices.

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 21st, the retail price of pears was 64,004 won for 10 pieces, up 18.1% from a month ago and 124.2% from a year ago. On the 19th, it reached an all-time high of 65,390 won for 10 pieces.

The retail price of apples was 33,831 won for 10 pieces, up 5.5% and 31.5% compared to a month ago and a year ago, respectively.

Due to a roughly 30% decrease in production last year, the prices of apples and pears remain at high levels.

The Korea Rural Economic Institute expects the supply of apples and pears to decrease by 21.3% and 87.1%, respectively, compared to the same period last year, from this month until the harvest season. Therefore, retail prices are likely to rise further.

Garak Agricultural Market, Songpa-gu, Seoul. Photo by Yongjun Cho jun21@

However, prices of seasonal fruits and vegetables are generally stable. The retail price of chamoe (Korean melon) was 16,124 won for 10 pieces, down 16.4% from a year ago. The retail price of watermelons was 20,126 won per piece, 4.4% higher than a year ago.

As some fruit prices show strength, the government decided at the price-related vice ministerial meeting on the same day to import more than 40,000 tons of imported fruit this month by applying tariff quotas.

They plan to quickly supply additional quantities in the second half of the year as well.

The government applied tariff quotas to 21 types of fruits including bananas and mangoes in January and added 8 more types such as kiwi and cherries in April.