A state-run institute forecast supply shortages of apples and pears until this year's harvest.

According to a monthly report released by the Korea Rural Economic Institute(KREI) on Wednesday, shipments of apples and pears in the May-July period are expected to drop 29-point-one and 84-point-three percent, respectively, year-on-year.

Due to the reduced supply, wholesale prices of apples this month are projected to jump 71-point-one percent year-on-year to 77-thousand-672 won, or around 57 U.S. dollars, for ten kilograms.

Wholesale prices of pears are forecast to expand 185-point-four percent from the same period last year to 111-thousand-80 won for 15 kilograms.
 
The current supply shortages are the result of a combination of cold-weather crop damage last spring, frequent heavy rains last summer and an increase of crop damage caused by disease.