SEOUL, May 18 (Korea Bizwire) — Prices of U.S.-grown cherries have dropped while prices of bananas from the Philippines rose following the coronavirus outbreak.
These pricing fluctuations are the result of a boost in exports coming from dwindling demand for cherries in the United States following the onset of the coronavirus pandemic, which has led import prices in South Korea to drop by approximately 10 percent in May compared to last year, Emart Inc. said Sunday.
In contrast, wholesale prices of Filipino bananas (13 kilograms per box) jumped by 11.2 percent since last month after the Philippines shut down all banana plants in response to the coronavirus outbreak, resulting in plunging exports of Filipino bananas.
The South Korea’s largest hypermarket chain expects that cheaper cherries, the most popular imported fruit between May and July last year, will gain more popularity this year.
Image Credit: Emart / Public Domain / photonews@koreabizwire.com
