Chuseok Ancestral Rite Table Cost 298,000 Won... Traditional Markets 80,000 Won Cheaper Than Large Marts

On the 6th, the Seoul Agro-Fisheries & Food Corporation announced that the cost of setting up a Charye table before Chuseok was approximately 224,181 won, about 21% cheaper at traditional markets compared to large supermarkets. However, prices for high-demand items such as fruits, livestock products, and eggs are rising, increasing the burden on consumers. The photo shows a fruit store at a traditional market in Mapo-gu, Seoul on the same day. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Seungjin Lee] This year’s Chuseok ancestral rite table cost is estimated to be about 300,000 KRW.

The Korea Agro-Fisheries & Food Trade Corporation (aT) announced on the 19th that the average cost of setting up a Chuseok ancestral rite table this year will be 297,804 KRW. This survey was conducted on the 14th, about a week before the Chuseok holiday, which is about 10 days earlier than last year, targeting 17 traditional markets and 27 large retail stores nationwide, covering 28 essential items for the Chuseok ancestral rite table.

Compared to last year, prices at traditional markets rose by 4.1%, while large retail stores saw a 0.3% decrease due to the government’s supply stabilization measures and discount events for essential items.

By item, prices of food crops such as rice and sesame, which had poor harvests last year, and livestock products, which saw increased household demand due to the spread of COVID-19, rose slightly. The price of rice (2kg) was 6,124 KRW at traditional markets and 5,234 KRW at large marts, up 11.7% and 1.3% respectively compared to the previous year. For beef brisket (300g), prices were 13,858 KRW at traditional markets and 24,522 KRW at large marts, up 5.3% and 5.4% year-on-year.

Fresh fruits such as apples and pears, which were initially feared to surge in price due to heatwave damage, stabilized as shipments increased due to a short rainy season. The price of five apples was 13,680 KRW at traditional markets and 11,333 KRW at large marts, down 10.7% and 36.3% respectively compared to last year.

Also, the cost of a Chuseok ancestral rite table for four people this year was found to be 85,923 KRW (24.3%) cheaper at traditional markets than at large marts. According to a survey by the Small Enterprise and Market Service, the average cost at traditional markets was 267,762 KRW, while large marts averaged 353,685 KRW.

In particular, prices for 19 items were cheaper at traditional markets. The largest price difference was in vegetables, with traditional markets being 58% cheaper. This was followed by meat (29.1%) and seafood (24.4%).

Seafood prices remained stable due to an overall increase in catch volume and government stockpile supply. On the other hand, chicken and eggs continued to soar due to culling caused by highly pathogenic avian influenza (AI) earlier this year and the effects of the heatwave.