South Korea: Korea's Apple Update

Already reeling from high fruit prices, Korean consumers will face another year of expensive, lower-quality apples. Korea’s apple production for marketing year (MY) 2023/24 fell 25 percent year-on-year after orchards suffered a series of adverse weather events in 2023. Apple tree yields were 23 percent below MY 2022/23, as premature flowering followed by spring frost, and subsequent heavy rains, hail, and extreme heat during the summer damaged fruit and led to disease outbreaks. Retail apple prices soared leading into the September Chuseok holiday as MY 2022/23 stored apple supplies ran short, prompting the Government of Korea to offer coupons to ease the burden of rising fruit prices.