Price Drop in Fruit and Gulbi Lunar New Year Gift Sets... Hanwoo Shows Slightly Firm Trend

Emart, Analysis Results of Major Fresh Food Prices

Low-carbon certified apple & pear mixed set sold at Emart.

[Asia Economy Reporter Lim Chun-han] About a month before this year's Lunar New Year, the prices of apple, pear, and gulbi gift sets have fallen compared to last year, but the price of Korean beef (Hanwoo) continues to show a strong upward trend.

According to Emart on the 5th, fruit production increased due to improved crop conditions, and market prices also dropped compared to last year. Emart cited data from the Korea Rural Economic Institute, explaining that thanks to relatively favorable weather conditions, apple and pear production increased by 13.2% and 39.3%, respectively, compared to the previous year. The average monthly wholesale prices of apples and pears as of December last year were more than 20% lower than the previous year. At Emart, the prices of pear and apple gift sets also dropped by up to 20%. Additionally, while last year the proportion of large fruits weighing over 700g accounted for 20% of the total raw fruits, this year the proportion of large fruits over 850g expanded to 40%, increasing the individual fruit weight.

In seafood, the price of gulbi gift sets fell by up to 5%. According to the Fisheries Industry Observation Center of the Korea Maritime Institute, as of November last year, the farm price per 1kg of yellow croaker was 10,730 KRW, down 2% compared to the same period the previous year. The production volume of yellow croaker itself decreased compared to the previous year. However, it was about 20% higher than the average level, and due to increased inventory caused by sluggish consumption amid the COVID-19 pandemic, prices declined. Accordingly, Emart's gulbi gift set prices dropped by up to 5%.

Hanwoo prices continue to be strong, and with the holiday gift price limit raised to 200,000 KRW, demand is expected to increase. According to data from the Livestock Products Quality Evaluation Service's Livestock Distribution Information, as of December last year, the average wholesale price per 1kg of Hanwoo carcass (beef with bones and internal organs removed) was 20,045 KRW, up 6.7% from 18,786 KRW in the same period the previous year.

An Emart official said, “While the prices of major gift sets except Hanwoo are showing stability, we have established and executed a mid- to long-term gift set preparation roadmap to offer customers the best products at the lowest prices.”

This content was produced with the assistance of AI translation services.