As the heatwave and heavy rains have passed, fruit prices, which had been on a downward trend, are rising again ahead of next month's Chuseok holiday. Wholesale prices for apples and pears, which are popular choices for holiday offerings, remain higher than average. This is due to delayed shipments caused by slower crop growth under current climate conditions. However, supply is expected to increase as the holiday peak season approaches. Retailers are also expanding their fruit inventory to help stabilize prices.

According to the Agricultural Products Distribution Information System (KAMIS), operated by the Korea Agro-Fisheries & Food Trade Corporation (aT), as of September 5, the wholesale price for apples (top grade) was 69,437 won per 10 kilograms, up 17% from the same period last year. Compared to the average price, excluding the highest and lowest prices over the past three years, this is 51% more expensive.

Apple prices rose 17% compared to last year

Last year, Chuseok fell in mid-September, making this period the peak season for fruit demand. At that time, the price for the same variety and quantity of apples in early September was 59,335 won, more than 10,000 won lower than this year. After surging to the 85,000 won range in early August, wholesale apple prices stabilized in the mid-60,000 won range as autumn began, but are now approaching 70,000 won again.

Additionally, the wholesale price for mid-grade apples (10kg) last week was 50,881 won, 33.5% higher than the same period last year. For pears, the wholesale price for a 15kg box (top grade) was 51,006 won, a 44% increase compared to the same period last year.

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The price for mid-grade pears also rose by 37.2% to 36,528 won. For top-grade pears, the wholesale price in early September this year is about 15,000 won higher than last year. Since wholesale prices typically take about a week to be reflected in retail prices, the increase may be applied to apple and pear prices by this weekend or early next week. As of the previous day, the retail price for 10 Hongro apples (top grade) was 30,059 won, up 17.6% from the same period last year.

The Agricultural Outlook Center at the Korea Rural Economic Institute pointed out that repeated heatwaves and heavy rains since July have led to more physiological disorders in apples and pears, and that the smaller fruit sizes in certain varieties have delayed the harvest. The center predicted that, starting around September 22, about two weeks before Chuseok, the shipment volume of apples and pears will increase by 6.5% and 7.2%, respectively, which is expected to bring down wholesale prices.

Major retailers have also increased their supply of apples and pears to stabilize prices ahead of Chuseok. For example, Emart has been accepting pre-orders for Chuseok gift sets from August 18 to September 26. As of September 4, all top four best-selling fruit sets during the 18-day period were apple and pear products priced under 50,000 won.

The best-selling product during this period, "Famous Orchard Apples (3.6kg, 11 pieces)," was price-protected through advance purchasing and is being sold at 49,800 won, the same as last Chuseok. Other sets, such as "Apple & Pear VIP (1.8kg apples/6 pieces, 2.3kg pears/4 pieces)," "Sugar-Selected Apples (3.3kg, 12 pieces)," "Famous Orchard Pears (6.5kg, 7-9 pieces)," and "Naju Traditional Pears (6.5kg, 7-9 pieces)" are being offered in the 30,000 to 40,000 won range. An Emart representative explained, "We are defending against rising prices through advance stockpiling and integrated purchasing."

In addition, Lotte Mart is offering discounted sets of apples and pears certified with Good Agricultural Practices (GAP) in the 30,000 to 40,000 won range, while Homeplus is selling GAP-certified apple and pear sets in the 40,000 to 50,000 won range.