'1.62 million won per kilogram': Yangyang matsutake mushrooms hit an all-time high

[Financial News] Premium matsutake mushrooms from Yangyang County, Gangwon, surpassed 1.62 million won per kilogram, setting a record high.
According to Yonhap News Agency and other reports on the 30th of last month, the auction price for Grade 1 Yangyang matsutake mushrooms was set at 1,623,700 won per kilogram that day. This was 12,500 won higher than the previous record of 1,611,200 won per kilogram, set on October 3 last year.
A total of 158.3 kilograms of Yangyang matsutake mushrooms were traded at the auction that day, with the total auction amount reaching 57,340,663 won.
By grade, 2.5 kilograms of Grade 1 mushrooms were traded at 1,623,700 won per kilogram, while 2.49 kilograms of Grade 2 mushrooms sold for 1,033,700 won per kilogram.
The growth-stopped grade totaled 5.9 kilograms and was priced at 613,700 won per kilogram. The open-cap grade totaled 26.34 kilograms and sold for 515,500 won per kilogram, while the off-grade category totaled 121.07 kilograms and was priced at 276,768 won per kilogram.
The sharp rise in matsutake prices is believed to have been driven by reduced production resulting from the recent hot, dry weather, along with demand from specific buyers.
Jeon Do-young, chairman of the Yangyang-Sokcho Forestry Cooperative, said, "The weather has been hot and dry lately, so the supply of matsutake mushrooms has been cut in half. Since supplies are limited, it seems that a buyer drove the bid to the highest price."
He added, "When someone who needs them wants to buy them, they can raise their bid at the matsutake auction. Still, today seems unusual."
Yangyang matsutake mushrooms have a low moisture content and firm bodies, giving them a deep and rich aroma. They can be harvested only during a specific period, making them highly scarce. In 2006, they were registered as the first forest product with a geographical indication by the Korea Forest Service (KFS).
Matsutake mushrooms typically command high prices ahead of Chuseok, when demand for gifts is strong. This year, however, prices have remained high even after Chuseok.
[email protected] Kim Su-yeon Reporter