'Chuseok Ancestral Rite Table Prices' Up 8% in a Year... Exceeding 300,000 Won at Large Supermarkets

Traditional Markets 240,000 KRW < Large Supermarkets 310,000 KRW
Large Supermarkets Up 8.4%, Traditional Markets Up 8.5%... Vegetable and Greens Prices Rise

[Asia Economy Reporter Lim Cheol-young] This year, the prices of Chuseok ceremonial table offerings have risen by more than 8% compared to last year at both large supermarkets and traditional markets. In particular, the cost of the ceremonial table at large supermarkets exceeded 300,000 won, about 70,000 won higher than at traditional markets, increasing the burden of grocery shopping.

On the 24th, the Seoul Agricultural and Marine Products Corporation announced that the cost of setting up a ceremonial table at large supermarkets this year was 307,430 won, up 8.4% from the previous year, and the purchase cost at traditional markets also increased by 8.5% to 243,273 won. This survey was conducted at 22 locations, including traditional markets, large supermarkets, and Garak Mall in Garak Market across seven districts in five living zones within Seoul.

Overall, prices of vegetables and wild greens increased. The survey results showed that prices of vegetables such as cabbage, radish, green onions, and zucchini, as well as wild greens like bracken and bellflower root, rose at all purchase locations compared to the previous year, while prices of livestock products such as beef and pork, and seafood like squid and flatfish, remained similar or slightly decreased compared to last year.

Additionally, the corporation conducted an online survey from the 8th to the 12th of this month targeting 216 general consumers regarding their intention to purchase seasonal products. 82% of respondents said they would buy seasonal products at offline stores such as large supermarkets and traditional markets. Among purchase locations, offline shopping methods were preferred, with large supermarkets at 49% and traditional markets at 26%.

The timing of purchase was mostly 2 to 5 days before the Chuseok holiday, accounting for 43%. This was followed by around the start of Chuseok (30%) and about one week before Chuseok (17%), indicating that many respondents purchase seasonal products starting about a week before Chuseok. The primary considerations were price (35%), freshness (33%), and taste (18%), in that order.

The corporation analyzed, "The price outlook for agricultural, livestock, and marine products this Chuseok (based on Garak Market) is generally expected to remain stable thanks to government policies to expand the supply of seasonal products and stabilize prices. However, due to recent high temperatures and heavy rains reducing vegetable production, and the early timing of Chuseok, some items are expected to maintain stronger prices compared to normal years."

This content was produced with the assistance of AI translation services.