Chuseok Ancestral Rite Table Cost at Traditional Markets 301,000 Won... 9.7% Increase from Last Year

Large Mart 408,420 Won... Traditional Markets 35.6% Cheaper

[Asia Economy Reporter Lim Chun-han] Amid the recent rapid rise in prices, the cost of Chuseok ancestral rites table this year has increased by 9.7% compared to last year based on traditional market prices.

According to a survey conducted on the 24th by Korea Price Information, a price research organization, three weeks before Chuseok, the cost of purchasing items for the ancestral rites table (for a family of four) at traditional markets and large supermarkets was investigated. At traditional markets, 301,000 KRW was required, which is 26,500 KRW more than the previous year. When purchased at large supermarkets, the cost was 408,420 KRW, which is 24,600 KRW (6.4%) more than last year. The cost difference between traditional markets and large supermarkets was 107,420 KRW, with traditional markets being 35.6% cheaper.

By item, prices rose for most items except chestnuts and rice. Fruit prices increased due to damage such as fruit cracking caused by the long rainy season and insufficient sunlight leading to lower sugar content, resulting in relatively lower quality and reduced supply. Korea Price Information expects that since this year's Chuseok is earlier than usual and new fruits have not yet been fully harvested, prices will be high at the beginning of the season but will stabilize once the harvest is in full swing.

Vegetable prices soared sharply due to record-breaking heavy rains. Last year, zucchini was priced at 1,000 KRW each but rose to 3,000 KRW, and napa cabbage increased from 7,000 KRW per head to 10,000 KRW. Prices of wheat and palm oil rose, causing prices of yakgwa (traditional honey cookies) and sanja (traditional rice cookies), which use a lot of noodles, flour, and oil, to increase. Among nuts, chestnut prices dropped significantly due to increased production, and prices of new rice and rice-based rice cakes also fell. Korea Price Information analyzed that if it were not for the price drops in rice and chestnuts compared to last year, the overall cost would have shown a higher increase rate than about 10%.

Lee Dong-hoon, senior researcher at Korea Price Information, said, "Since this year's Chuseok is earlier than usual and new products have not yet been fully harvested, there are many variables, but prices of most ritual items such as vegetables and fruits are high due to the effects of heatwaves and heavy rains," adding, "To purchase good quality ingredients relatively cheaply, it is best to buy as close to Chuseok as possible."

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