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Asian pear prices surge 71.9% as South Korea's fruit and vegetable costs fluctuate in 2024

In South Korea, the consumer price index for fruits and vegetables exhibited notable fluctuations in 2024, as reported by Statistics Korea. Among the 458 indexed items, Asian pears experienced the highest price increase, rising by 71.9%. This surge was attributed to depleted stock levels from the previous year, compounded by adverse weather conditions such as heavy rain and heat waves, which constrained supply.

Tangerines saw a 46.2% price increase, driven by poor harvests in the latter half of the year and a shift in consumer demand toward alternative fruits. Persimmons and apples followed with price hikes of 36.6% and 30.2%, respectively, both affected by climate-related supply disruptions.

Other vegetables also faced upward price pressures. Cabbage prices rose by 25.0%, radishes by 24.5%, and tomatoes by 21.0%. Carrots experienced a 20.9% increase, reflecting broader trends in food inflation that have become a concern for consumers.

Mango prices fell by 10.4% as a result of increased imports facilitated by a tariff exemption program. Ginger and potatoes are linked to enhanced production levels.

The data highlights the influence of extreme weather and supply chain dynamics on the pricing of fruits and vegetables in South Korea, with ongoing inflationary trends continuing to affect consumer behavior into 2025.

Source: The Korea Bizwire