Fruit consumer price 2.0%↓… Apple and pear prices remain high

The fruit consumer price index in Korea has seen a decrease of 2.0% from the previous month, marking a two-month run of declines, primarily due to the presence of seasonal fruits like melons, watermelons, and blueberries. Prices for these fruits are down significantly compared to last year. However, prices for apples and pears have surged due to depleting storage supplies, although they make up a minimal portion of fruit sales at large supermarkets. The Ministry of Agriculture, Food and Rural Affairs has expressed optimism about the fruit supply for Chuseok and anticipates a stabilization of the consumer price index in August with the arrival of new fruit crops.

As seasonal fruits such as melons, watermelons, and blueberries began to be shipped in earnest, the fruit consumer price index fell. The prices of apples and pears continued to skyrocket as storage volumes ran out. According to the July consumer price trend announced by Statistics Korea on the 2nd, the fruit price index fell 2.0% from last month, showing a downward trend for two consecutive months. This is because seasonal fruit crops are good and supply is smooth. Compared to the same period last year, fruit prices were lower by 17.7% for melons, 2.5% for watermelons, and 1.3% for blueberries. Peaches and grapes rose slightly by 2.2% and 5.1%, respectively, compared to the previous year, but overall price trends are stable. The prices of apples and pears jumped by 39.6% and 154.6% compared to the same month last year as storage supplies were almost exhausted. However, the proportion of apples and pears among fruit sales at large supermarkets in July was low at 9.7%, so it is ...