The Korean government will add cherries, kiwis and mangosteens to the list of products with little or no import tariffs, continuing to focus on restraining rising prices of domestically produced apples and pears. Presently, 24 types of fruits, including oranges, bananas, pineapples, mangos and grapefruits, are subject to tariff exemption, but five more items have been added.
Still, the administration shied away from importing apples, a mainstay fruit among Koreans, potentially out of fear of anger among domestic farmers and the need to establish a fresh customs procedure. The prices of fruits, particularly apples, have soared since last year due primarily to a shrinking supply affected by abnormally low temperatures and anthrax outbreaks.
According to the Korea Agro-Fisheries & Food Trade Corporation, the price of ten kilograms of apples was 91,700 won as of March 13, up 123 percent on-year. The Ministry of Economy and Finance reported that the apple supply declined 30.3 percent last year compared to the previous year.
Source: koreajoongangdaily.joins.com
Sign up for our daily Newsletter and stay up to date with all the latest news!
Subscribe I am already a subscriber