Chuseok food cost in South Korea hits all-time high
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In the light of rising food prices, more people have turned to cheaper and more convenient ready-to-eat meals or meal kit products to simplify this year’s charye.
PHOTO: EPA-EFE
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SEOUL – Amid rising inflation,
During Chuseok, setting up a charye – a table full of food offerings including fruits, rice, fish and meat – is prepared to honour one’s ancestors.
However, the cost of preparing a four-person charye is expected to hit an all-time high ahead of Chuseok, according to the latest data released by Korea Price Information.
When preparing a table with ingredients from the traditional market, the price was estimated at some 309,000 won (S$310), up by 9,000 won from 2022, marking a 3 per cent on-year growth.
Meanwhile, if one is preparing a charye with ingredients from a large supermarket chain, the price comes to some 403,280 won, a rise of 7,990 won that equates to a 2 per cent on-year growth.
A poor harvest, caused by the heat wave and Typhoon Khanun this summer, is believed to be largely responsible for a surge in the cost of setting up a charye table, as the prices of individual staples have soared significantly.
For example, the price of three apples rose by over 30 per cent, jumping from 15,000 won to 20,000 won at the traditional market, and from 14,900 won to 19,600 won at a large supermarket chain, compared with last year.
Meanwhile, the price of 2kg of rice rose from 5,000 won to 6,000 won at the traditional market, and from 8,450 won to 9,990 won at large supermarkets on-year.
In the light of rising food prices, more people have turned to cheaper and more convenient ready-to-eat meals or meal kit products to simplify this year’s charye.
According to the latest analysis of sales trends from Sept 4 to 13 by e-commerce platform Gmarket, sales of processed livestock products rose by 30 per cent, and instant rice and cup rice products by a staggering 46 per cent compared with the Chuseok promotion period from Aug 15 to 24 in 2022. THE KOREA HERALD/ASIA NEWS NETWORK
