Rocketing vegetable prices in South Korea

A typhoon-hit summer has driven up vegetable prices in South Korea, as the country prepares for the Chuseok festival in autumn. JoongAng Daily reports that the prices of various kinds […]
Tue 15/09/2020

A typhoon-hit summer has driven up vegetable prices in South Korea, as the country prepares for the Chuseok festival in autumn. JoongAng Daily reports that the prices of various kinds of vegetable have risen sharply. According to Korea Price Information data, the cost of offerings to ancestors at the Chuseok festival currently stand at around US$228 at a traditional market, up 15.5% from 2019. The price rises in supermarkets is even more pronounced, with average cost of offerings going up by 24.7%. The Chuseok festival is held on 1 October and tends to be accompanied by higher prices as consumers purchase food for offerings to ancestors. 

According to the Korea Agro-Fisheries and Food Trade Corporation, the price of Napa cabbage has increased by 58% in the past month and by 99% compared to the same time in 2019. The price of radishes has jumped 94% year-on-year, while the prices of watermelons, perilla chives and cherry tomatoes have risen by between 30 and 80%. As the festival draws nearer, prices are set to climb still further.