This year, the expense for the Seollal ritual table for a family of four is expected to exceed 200,000 won, marking an increase of about 4% compared to last year. The decrease in agricultural production due to unusual weather patterns last year is the cause. Large supermarkets plan to launch discount events to alleviate consumer burdens.
According to the Korea Agro-Fisheries & Food Trade Corporation on the 16th, this year's expense for the Seollal ritual table was tallied at 203,349 won, up 3.9% from last year. This survey was conducted based on 24 items in 16 traditional markets and 34 large retail companies across 23 regions nationwide for a family of four. By business type, the expense was 188,239 won in traditional markets and 218,446 won in large retail companies, increasing by 2.6% and 5%, respectively, compared to last year.
The Korea Agro-Fisheries & Food Trade Corporation reported that the prices of radishes and cabbages have risen the most. The average price of radishes is 3,342 won each, a 98% increase from the previous year, while cabbages cost 537 won per 300g, marking a 56.1% increase from the year before. The rise in prices for cabbages and radishes is attributed to climate change. Following a summer heatwave last year and lingering warmth after Chuseok, agricultural growth was sluggish. Additionally, frequent rain in Jeju, the main production area for winter radishes, contributed to the decline in production. Early harvesting of radishes and cabbages last year to stabilize prices during the kimjang season was also a factor in the price increase.
In the case of livestock products, prices for beef and pork have increased this year compared to last year due to a low base effect. The price of beef is 4,585 won per 100g and pork shoulder is 1,541 won per 100g, reflecting increases of 16% and 16.8%, respectively. However, the price of beef offals has decreased by 1.7% to 5,809 won per 100g. The price for a dozen eggs is 2,139 won, up 15.1% from the previous year.
For seafood, the price of silver pomfret has seen the highest increase. The price for three pomfrets is 5,936 won, a 23.4% rise from last year. Among fruits, the price of pears is 4,306 won each, increasing by 21.5%.
The prices of zucchini and spinach, which are highly versatile as side dishes, have fallen. Zucchini costs 2,283 won each, down 18.6%, and spinach is 3,878 won per 400g, a decrease of 6.2%. The price of dried persimmons has also dropped significantly, now costing 8,937 won for nine, marking an 18.5% decrease. Prices for chestnuts, dried pollack, rice cake, and cheongju have also slightly decreased compared to last year. The price of apples is similar to last year at 14,113 won for five.
◇Government price defense efforts intensify... Major supermarkets join in
The government plans to supply items focused on essential goods for the Seollal holiday to defend against inflation. The Ministry of Agriculture, Food, and Rural Affairs intends to release a total of 11,000 tons of available volume into the market, at least 200 tons per day, to prepare for the expected shortage of cabbage and radishes during the Seollal peak season. Additionally, starting this month, fruits such as Hallabong and Cheonghyang will be in season, and the government aims to expand the supply of value-based gift sets primarily featuring these fruits and stabilize tangerine prices through discount support. The supply of mixed gift sets including apples and grapes will also be increased. To ensure stable supply of pears, 10 tons of contract-cultivated volume has been released into the market since the 7th.
The government will provide 60 billion won in the largest-ever discount support funds to large supermarkets and other retailers. As a result, major supermarkets will conduct events combining government support with their own discounts.
Emart will offer Shinsegae gift certificates for purchases of ritual goods until the 30th. Additionally, discounts of 20% on cabbages, radishes, apples, and onions will be implemented until the previous day, and from this day forward, weekly items will change for discount events leading up to the holiday. Emart plans to lower prices focusing on vegetables, fruits, and livestock secured through its own fresh logistics center, 'Fresh Center,' and directly operated 'Meat Center.'
Lotte Mart will offer up to 30% discount on livestock products until the 19th and has expanded additional discount items such as uniform pricing and one-plus-one promotions. They have secured a total of 150 tons of LA ribs pre-reserved since October last year for supply. The volume of Shine Muscats and seasonal fruits, as well as mixed fruits, has also been increased by 30% compared to last year's Seollal. Discounts from the Ministry of Agriculture, Food, and Rural Affairs will apply to apples, chestnuts, radishes, cabbages, sweet persimmons, grapes, tomatoes, cherry tomatoes, onions, eggs, dried persimmons, pork, and chicken, and a seafood competition will be held for mackerel, hairtail, cleaned squid, and beef intestines.
Homeplus will apply a 20% discount on apples, radishes, and cabbages from the 23rd to the 29th. Customers will receive a 5,000 won discount on pears when paying with the event card, and will also receive a 40% discount on beef brisket for membership members.