South Korean farmers face price drops amid high apple and potato yields

South Korean agricultural sectors are facing a paradox of high production yields alongside concerns over market stability. Apple production is projected to reach 481,000 tons this year, a 7.4% increase from last year. This surplus, particularly during the Chuseok holiday season, is expected to drive wholesale prices down. Farmers in regions like Cheongsong expressed concern that falling prices, combined with rising production and labor costs, could diminish profitability despite the bountiful harvest.

In a separate effort to manage supply, the Korea Agro-Fisheries & Food Trade Corporation (aT) has announced plans to purchase 1,300 tons of highland potatoes. With potato production expected to rise by 7.4% to 123,000 tons, aT aims to use these stockpiles to mitigate supply volatility caused by extreme weather and to stabilize consumer prices during off-seasons.