As the Lunar New Year approaches, the prices of certain items, such as napa cabbage and frozen fish, are rising significantly. In contrast, the prices of major items like apples, Hanwoo beef, and chicken remain at similar levels compared to the previous year.
According to data from the Korea Agro-Fisheries & Food Trade Corporation (aT), the Livestock Products Quality Assessment Institute, and the National Agricultural Cooperative Federation on the 26th, the prices of napa cabbage, radishes, and frozen fish among the 16 designated items for this year's Lunar New Year festivities have increased due to poor harvests and rising demand.
As of the 24th, the average retail price of napa cabbage per head is 4,839 won, representing an increase of 52.9% compared to the previous year and 41.6% compared to the average year. Radishes cost 3,023 won each, which is a 96.3% increase compared to the previous year and 64.8% compared to the average year. This has been attributed primarily to poor winter harvests and increased storage demands from kimchi manufacturers.
The price of pears (Shingo and other varieties) is 46,956 won for 10, an increase of 39.6% compared to the previous year and 40.4% compared to the average year. Last year's extreme heat seems to have negatively affected harvests and reduced production. In contrast, the price of apples (Fuji and other varieties) is 26,872 won for 10, down 0.9% compared to the previous year but up 4.3% compared to the average year. Prices for chestnuts and jujubes remain at the same level as last year.
Seafood prices are generally on the rise. Mackerel (domestic salted, medium quality) costs 6,473 won per hand, up 45.4% compared to the previous year and 67.0% compared to the average year. Frozen fish (medium quality) is priced at 1,959 won per fish, an increase of 24.9% compared to the previous year and 28.0% compared to the average year. Dried anchovies cost 2,409 won for 100g, rising 11.0% from the previous year. Pollack is 6.1% more expensive than a year ago, while squid costs 7,507 won per fish, up 2.3% year-on-year and 4.6% compared to the average year. Meanwhile, hairtail (domestic, refrigerated) dropped 5.9% compared to both the previous year and the average year.
Livestock prices remain relatively stable. The retail price of grade 1 Hanwoo beef loin is 9,185 won per 100g, similar to the previous year, and chicken is priced at 5,527 won per kg, showing little variation from the previous year. However, the price of eggs (special) has risen to 6,410 won per dozen, an increase of 8.7% compared to last year, while the price of pork belly is 2,541 won per 100g, up 13.2%.