The price of tangerines hit rock bottom at the end of last year, and it is finally rising after the cold spell.

Prices of the late maturing citrus are also going up, and attention is on whether it will continue until Lunar New Year’s Day.

Joseph Kim has more.

Report
The price of Jeju tangerines, which had been struggling with the price crash, has soared this year.


The average price of outdoor grown Jeju tangerines on the national wholesale market is 8,700 won per 5kg box.
It stayed in the 5,000 won range until a month ago, but it’s been on a steep rise this year.


It traded at 9,500 wonat the Garak Market in Seoul.


The price increase was due to the cold spell and heavy snow that continued from the end of the year and disrupted the tangerine harvest. The volume of goods entering the wholesale market has decreased as well.

Additionally, market isolation measures in Jeju Province are also believed to have affected the situation to prevent a fall in prices.

The price of late maturing citrus, which are in the midst of shipping, are also continuing to rise.

The average wholesale market price is about 12,000 won for Hwanggeumhyang which went up by 23%, for Redhyang by 17%, for Cheonhyehyang by 16% and for Hallabong by 9% compared to the same period last year.



In a pre-inspection system for late maturing citrus last year, it was analyzed that the citrus would maintain a consistent taste and a stable price.

Meanwhile, Jeju City and Seogwipo City have decided to provide incentives to farms that will ship after March to balance the timing of the shipments of late maturing citrus.

Joseph Kim, KCTV.