(ANN/THE KOREA HERALD) – South Korea is witnessing a significant surge in fruit prices, with apples hitting a record high, amid broader inflationary pressures, according to the Korea Agro-Fisheries & Food Trade Corporation.
On Tuesday, the wholesale cost of 10 kilogrammes of apples reached KRW91,700 (USD 70), marking a dramatic increase from last year’s KRW41,060 for the same quantity.
This surge in apple prices first breached the KRW 90,000 threshold on January 17, eventually reaching an all-time peak of KRW94,520 on January 29, and has consistently stayed above KRW 90,000 since March 6.
In parallel, pear prices have also escalated, with 15 kilogrammes of pears costing KRW103,600 on Tuesday, continuing an upward trend that began on March 7, when the price exceeded KRW100,000 for the first time since August 19, 2021.
The retail impact is stark, as the cost of 10 apples rose by 30.5 per cent compared to last year, ranging between KRW23,063 and KRW30,097, and the price of 10 pears surged by 50.1 per cent, from KRW28,523 to KRW42,808.
The price increase reflects the distinct nature of Asian pears, which are larger and typically more expensive than the large apples commonly found in South Korea, contributing to the heightened cost of these fruits in the retail market.
