February 03, 2026 | The Chosun Daily |
The Ministry of Agriculture, Food and Rural Affairs will cut tariffs on imported bananas, pineapples, and mangoes from 30% to 5% starting with shipments arriving on the 12th, to curb rising fruit prices driven by high exchange rates. The reduced tariffs are expected to affect market supply after mid-month and will significantly lower import costs—for example, the tariff on 10,000 won worth of mangoes will drop from 3,000 won to 500 won.
The move comes as the weakening Korean won has pushed up won-denominated import prices, even though global dollar prices for imported fruits fell slightly. Officials noted that poor harvests in exporting countries such as the Philippines and unfavorable exchange rates have raised prices for some imported fruits, while domestic fruit supplies remain stable.
Overall agricultural and livestock prices rose 2.1% year on year last month, but imported fruits, rice, and apples remained relatively expensive. To ease consumer burdens, the ministry plans to release record volumes of seasonal products and promote large-scale discount campaigns.
