Gift Sets with Prices Up 60% Released... Gold-Priced Apples and Pears, Upcoming Seollal 'Dizzying'

Average Price of Lunar New Year Fruit Gifts Rises 20-30%
Impact of Spring Frost and Hail Damage on Apples and Pears

As the prices of apples and pears continue to soar, the prices of fruit gift sets for the Lunar New Year are also rising. They have increased by an average of 20-30% compared to last year.

According to the agricultural product distribution information from the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 14th, as of the 10th, the retail price of apples (Fuji, 10 pieces) was 29,000 won, and pears (Shingo, 10 pieces) were about 33,000 won. The apple price surged 31.0% from 22,504 won a year ago, and rose 7.3% compared to just a month ago (27,460 won).

Prices of Representative Fruits Such as Apples and Pears Soar [Photo by Yonhap News]

The rise in apple and pear prices was influenced by last spring's cold damage and hail damage. Additionally, in summer, production decreased by 30.3% and 26.8% respectively compared to the previous year due to monsoon rains, typhoons, heatwaves, and pest damage.

The price of tangerines, a representative winter fruit, also increased. The retail price of tangerines (standard grade) was 4,353 won as of the 10th, up 30.8% from a year ago.

As fruit prices rise, fruit gift sets priced up to 60% higher than last year have appeared in the distribution market ahead of the Lunar New Year holiday next month.

Large supermarkets and department stores have secured a certain amount of large apples and pears for gift sets by diversifying production areas. At the same time, they have prepared fruit sets mixed with Shine Muscat grapes, which have relatively stable prices and supply.

Emart plans to increase the quantity of Shine Muscat single-item sets priced under 50,000 won, which have high consumer demand during the Lunar New Year, by 50% compared to last year’s Lunar New Year. Emart also promoted products combining Shine Muscat with apples and pears as their main gift sets.

Employees introducing small-sized gift sets at the food hall on the basement first floor of Lotte Department Store Main Branch.
[Photo by Lotte Department Store]

Shine Muscat grapes are included without fail in the small-sized fruit gift sets introduced by Lotte Department Store. The number of fruit gift sets including Shine Muscat released by Lotte Department Store this year is six times more than in 2019. Lotte Mart increased the quantity of budget-friendly fruit sets by about 30% compared to last year’s Lunar New Year, selling 3kg apple sets and 5kg pear sets in the 30,000 won and 40,000 won price ranges, respectively. Nut and seaweed gift sets were prepared mainly with products under 30,000 won to maximize cost-effectiveness, and canned food sets priced in the 20,000 won range were increased by about 20% compared to last year.

Homeplus offered apple sets (8 pieces) and pear sets (6 pieces) at about 40,000 won each, and a mixed set of 4 apples, 3 pears, and 4 Redhyang oranges at about 55,000 won. Shinsegae Department Store and Hyundai Department Store launched fruit gift sets focusing on Hallabong, Cheonhyehyang, and Shine Muscat, which have stable harvests.

Meanwhile, the sharply rising agricultural product prices at the end of last year continue to put pressure on grocery prices in early this year, sustaining the increase in grocery prices. According to the National Statistical Portal (KOSIS) in January, agricultural product prices rose 6.0% compared to a year earlier. Monthly price increases grew larger toward the end of the year, with 13.6% in November and 14.7% in December, triggered by summer supply instability. The fresh food index also jumped 6.8%, marking the largest increase since 2020. With the Lunar New Year holiday (February 9-12) approaching and considering the demand for seasonal goods, high agricultural product prices are likely to continue through next month.

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