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Apple prices begin to fall amid stabilization measures

Collected: 2024.03.21

Distributed: 2024.03.22

Source: Go Direct

[Photo by Yonhap]

Apple prices in South Korea have started to fall, following the government’s measures to stabilize agricultural prices.

According to the Korea Agro-Fisheries & Food Trade Corp. (aT), the retail price of 10 Fuji apples stood at 23,776 won ($17.87) on Wednesday, down 21 percent from 30,105 won a week ago.

Retail prices refer to the prices at which consumers purchase at large supermarkets or traditional markets.

Pear prices have also turned downward.

The retail price of 10 Shingo Asian pears was 41,594 won on Wednesday, down 3.6 percent from 43,090 won a week ago.

Pear retail prices stood at 33,911 won at the beginning of 2024 and rose to over 40,000 won on February 20 before falling.

Industry insiders noted that the government‘s measures to stabilize agricultural prices are beginning to take effect.

The government announced agricultural price stabilization measures on Monday, including those against excessive price hikes, market manipulation, and unfair practice.

“We will fully implement policies for delivery price and discount support without limitations on duration, items, or scale until agricultural prices stabilize to the level of normal years,” President Yoon Suk Yeol said on Monday.

By Lee Hee-jo and Yoon Yeon-hae

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