This Year's Chuseok Ritual Table Costs Rise 5.1%; Garak Mall Cheapest at 228,000 Won

[Financial News] The average cost of preparing a Chuseok ritual table this year was 5.1% higher than last year. The increase was driven by sharp rises in vegetable prices following a summer heat wave and frequent rainfall. By shopping venue, Garak Mall had the lowest cost at 228,000 won, more than 60,000 won cheaper than large supermarkets. The Seoul Agro-Fisheries & Food Corporation said on the 18th that it surveyed the cost of purchasing 34 key holiday food items for a six-person family at 25 locations, including traditional markets, large supermarkets and Garak Mall at Garak Market.
Garak Mall had the lowest cost among the shopping venues at 228,000 won. Although the price was up 5.6% from last year, it was 7.0% cheaper than traditional markets and 21.6% cheaper than large supermarkets. The difference compared with large supermarkets was 62,711 won.
The cost at traditional markets was 245,051 won, up 3.5% from last year. Large supermarkets cost 290,711 won, an increase of 6.0%, making them the most expensive type of retailer surveyed.
The survey was conducted on the 9th at 16 traditional markets and eight large supermarkets in eight autonomous districts of Seoul, as well as Garak Mall.
Vegetables led this year's increase in the cost of preparing a Chuseok ritual table. On average across traditional markets, large supermarkets and Garak Mall, vegetable prices rose 14.7% from last year. They were followed by livestock products at 7.4%, seafood at 6.2% and fruit at 3.6%. Processed foods remained at about the same level as last year.
Prices rose particularly sharply for items whose harvests suffered because of the summer heat wave and frequent rainfall. Zucchini prices surged 43.8% from last year, while radishes and bellflower roots rose 24.9% and 23.0%, respectively. By contrast, prices for loose-leaf napa cabbage fell 9.6% and green onions dropped 2.0% as supplies increased with the arrival of stored inventories.
Among livestock products, pork rose 18.5% and beef for soup increased 10.5%, influenced by declines in the number of animals raised and slaughtered. Beef for sanjeok rose 0.3%, remaining at a level similar to last year.
Seafood prices also increased as catches and inventories declined, with pollock fillets rising 20.1% and dried pollock 10.8%. In contrast, large yellow croaker fell 6.4% as the government released stockpiled supplies and discount promotions were offered.
Fruit prices showed a relatively stable trend. Pears and chestnuts rose 12.7% and 15.4%, respectively, while apples fell 0.1%. Dried persimmons and jujubes also declined by 12.0% and 14.5%, respectively.
The most advantageous shopping venue varied by item. Traditional markets offered lower prices than large supermarkets for namul ingredients such as bracken and peeled bellflower roots, seafood such as pollock fillets and large yellow croaker, and livestock products such as beef and chicken. At large supermarkets, however, some processed and packaged foods—including songpyeon, dasik, imitation crab sticks and eggs—were cheaper than at traditional markets.
At Garak Mall, vegetables such as radishes, green onions, zucchini, bracken and peeled bellflower roots, livestock products such as pork and chicken, and some processed foods were relatively inexpensive. Among fruits, apples and jujubes were also cheaper than at large supermarkets.
The corporation explained that prices may differ when consumers actually shop for Chuseok because the survey reflects conditions as of the 9th.
Moon Young-pyo, president of the Seoul Agro-Fisheries & Food Corporation, said, "This year, some vegetable prices rose because of the heat wave, but fruit and processed foods remained relatively stable, limiting the overall increase in the cost of preparing a Chuseok ritual table. Because price differences between types of retailers are substantial for some items, referring to the survey results and dividing purchases among different venues can help reduce the burden of holiday shopping."

[email protected] Seong Cho-rong Reporter