The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Young K-pop couple Choi Min-hwan, Yulhee announce divorce

  • 3

    ANALYSISWhy is N. Korea not allowed to launch spy satellites?

  • 5

    Will Seoul's new transportation services improve convenience for commuters?

  • 7

    Late K-pop star Moonbin's memorial space shut down after fans complain

  • 9

    Samsung tightens employee discipline amid chip industry downturn

  • 11

    How a regrettable tattoo led to a South African's musical journey

  • 13

    Hankook Tire mired in sibling feud again

  • 15

    Korea indirectly supplied more 155-mm shells for Ukraine than all European countries combined: WP

  • 17

    Korean students rank among top performers among OECD nations in educational performance: report

  • 19

    US says S. Korea not subject of UN sanctions after NK's 'double standard' claim

  • 2

    'Single's Inferno' is back with most interesting season, producer says

  • 4

    Seoul launches regular nighttime self-driving bus service

  • 6

    BTS' V and BLACKPINK's Jennie break up: sources

  • 8

    Korea could disappear from map if it doesn't welcome more immigrants: justice minister

  • 10

    Korean gov't slammed for mishandling victims of sex trafficking

  • 12

    GOING ELECTRICThe complex decision to buy an electric scooter in Korea

  • 14

    INTERVIEWFemale leadership not just diversity issue, but survival necessity

  • 16

    Italy withdraws from China's Belt and Road project

  • 18

    BTS agency asks fans to refrain from visiting scenes of members' military enlistment

  • 20

    Cars, batteries, instant noodles drive Korea's exports in 2023

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Thu, December 7, 2023 | 03:18
Companies
Imported fruit prices skyrocket as US dollar soars
Posted : 2022-10-04 08:28
Updated : 2022-10-04 16:07
Kim Jae-heun
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
A customer looks at the price of a box of peaches at a large grocery store in Seoul, Sept. 23. Yonhap
A customer looks at the price of a box of peaches at a large grocery store in Seoul, Sept. 23. Yonhap

By Kim Jae-heun

A 34-year-old office worker surnamed Kim was surprised to see how expensive bananas have become amid a series of news stories that the soaring U.S. dollar has sharply raised the prices of imported fruit.

"I have been purchasing bananas once a week for many years, but I have never seen their price go so high as it is now. It makes me hesitate to grab one when I see how much it costs," Kim said.

The Korean currency ended at 1,441 won per dollar on Oct. 1, hitting a 13-year low against the dollar. This caused the price for a bunch of bananas to increase from the 3,000 won range to 5,480 won at large supermarkets in Seoul last week.

According to the Korea Agro-Fisheries & Food Trade Corporation, the wholesale price of imported bananas the day before stood at 31,100 won ($2.08) per 13 kilograms, up 10.2 percent from 28,232 won a month ago. Compared to last year's wholesale price, the price of the fruit jumped 23.3 percent in the same period.

In addition to rising production and logistics costs, the soaring exchange rate of the dollar against the won played a critical role in the skyrocketing price of imported fruit.

The prices of mango and pineapple also increased nearly 10 percent last month.

"I can't afford to buy imported fruit anymore. The price went up too much. I might get some locally produced fruit like apples or grapes instead for a while," a 32-year-old housewife surnamed Suh said.

Local supermarkets are also turning their attention to locally produced fruit for their stable supply and prices.

"We expect the prices of overall imported foods and fruit to increase in the next few weeks affected by the rapidly depreciating won against the dollar. Instead, we will focus on selling more locally produced fruit as the farms here are decreasingly vulnerable to severe weather conditions," a local retail firm official said.

The prices of locally produced fruit like apples and Shine Muscat (a type of grape) have fallen 14.6 percent and 21 percent, respectively, year-on-year. This led to the sales of local fruit increasing11.5 percent between March and June this year.


Emailjhkim@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
LG group
Top 10 Stories
1Korea could disappear from map if it doesn't welcome more immigrants: justice ministerKorea could disappear from map if it doesn't welcome more immigrants: justice minister
2YG Entertainment's stock price soars over renewed contract with BLACKPINK YG Entertainment's stock price soars over renewed contract with BLACKPINK
3[INTERVIEW] Korea has great opportunity to lead green transition INTERVIEWKorea has great opportunity to lead green transition
4Yoon expected to replace foreign minister soonYoon expected to replace foreign minister soon
5KAI boosts partnerships with Egypt at defense fair KAI boosts partnerships with Egypt at defense fair
6Genesis BBQ fosters Vietnam as Southeast Asia hub Genesis BBQ fosters Vietnam as Southeast Asia hub
7Real estate project financing poses biggest risk to Korean economy in 2024: S&P, NICE Real estate project financing poses biggest risk to Korean economy in 2024: S&P, NICE
8Rising Thai politician seeks to tackle growing challenges between Seoul, BangkokRising Thai politician seeks to tackle growing challenges between Seoul, Bangkok
9[INTERVIEW] Namseoul University leads adoption of innovative IB education programs INTERVIEWNamseoul University leads adoption of innovative IB education programs
10Is career diplomat suitable to lead SMEs ministry? Is career diplomat suitable to lead SMEs ministry?
Top 5 Entertainment News
1Late K-pop star Moonbin's memorial space shut down after fans complain Late K-pop star Moonbin's memorial space shut down after fans complain
2Uncertainty lingers despite BLACKPINK's contract renewalUncertainty lingers despite BLACKPINK's contract renewal
3[INTERVIEW] Song Kang discusses evolving role in 'Sweet Home' season 2 INTERVIEWSong Kang discusses evolving role in 'Sweet Home' season 2
4Young K-pop couple Choi Min-hwan, Yulhee announce divorce Young K-pop couple Choi Min-hwan, Yulhee announce divorce
5'Single's Inferno' is back with most interesting season, producer says 'Single's Inferno' is back with most interesting season, producer says
DARKROOM
  • It's beginning to look a lot like Christmas

    It's beginning to look a lot like Christmas

  • 2023 Thanksgiving parade in NYC

    2023 Thanksgiving parade in NYC

  • Appreciation of autumn colors

    Appreciation of autumn colors

  • Our children deserve better

    Our children deserve better

  • Israel-Gaza conflict erupts into war

    Israel-Gaza conflict erupts into war

  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher: Oh Young-jin
Digital News Email: webmaster@koreatimes.co.kr
Tel: 02-724-2114
Online newspaper registration No: 서울,아52844
Date of registration: 2020.02.05
Masthead: The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group