Gold egg, gold apple, gold onion… 11 cost jumps on the Lunar New Year’s turn this year

A hypermarket in Mok-dong, Seoul on the 20th. Hwang Sun-hwa, 44, a housewife, sighed while walking in front of the egg, vegetable and fruit stand. Mr. Hwang said, “Every year ahead of the New Year, the price of food ingredients has risen, but this year it has jumped a lot,” he said. “I am thinking about whether I need to prepare less food to meet the budget because the price of fruits, vegetables, and eggs has increased.”

As the price of the table at the beginning of the year was soaring, it was observed that the cost of this year’s New Year’s turn would jump more than 10% from the time of New Year’s Day last year. This is the result of having sluggish fruit crops last summer due to the aftermath of a rainy season and typhoons, and vegetable prices also rising due to cold waves. Amid rising demand for home food due to the new coronavirus infection (Corona 19), avian influenza (AI) has also hit the market, supporting the price hike of food ingredients such as eggs.

On the 21st, the Korean Inflation Association conducted a survey on the prices of 29 related items in eight traditional markets in six major cities across the country, including Seoul, Incheon, Busan, Daegu, Gwangju, and Daejeon. It was announced on the 22nd that it was 23,3750 won, an increase of 11.0% (23,160 won) from the Lunar New Year last year.

Prices of 21 items out of 29 surveyed items such as fruits, nuts, and vegetables rose. There were only 7 items whose prices fell.

In particular, the price increase of fruit products was remarkable. Based on the five prizes, apples jumped 22.3% to 15,500 won, and pears rose 12.5% ​​to 19,570 won. In a situation where supply cannot support due to the damage of fruits and burns caused by the rainy season and typhoon last year, the demand for gifts and gifts increases, leading to an additional increase in prices, according to the Price Association.

The price of nuts such as chestnuts and jujubes also rose. The cost of purchasing 1kg of chestnuts rose 2.4% to 8070 won, and the price of jujube (400g) rose 12.1% to 6590 won.

Green onions also rose mainly from green onions and spinach as shipments declined due to sluggish crop production due to the recent cold wave. Korean leeks rose 100% from last year to 4,500 won per unit, and spinach rose 32.0% and bellflower rose 8.6%.

Meat prices continue to rise as the demand for home-cooked food is steadily increasing. The prices of beef (400g of soup stock) and pork (1kg of pork belly) rose 25.7% and 17.6%, respectively.

Eggs also became’golden eggs’ in the aftermath of AI. The 30 items were sold for 6370 won, a 37.6% increase in the special price. As egg prices skyrocket due to the spread of AI, some convenience stores and hypermarkets have stopped selling eggs or limiting the number of purchases.

The Price Association predicted that “amid growing demand for home food due to Corona 19, the supply of supplies in turn is not smooth due to sluggish crop conditions, bad weather, and livestock epidemics,” and predicted that “the burden of new year’s expenses for the common people this year will slightly increase.”

Meanwhile, the government announced that it would increase the supply of related items in order to stabilize the prices of holy goods ahead of the Lunar New Year. According to the’Safety Measures for New Year’s Lives’ announced by the Ministry of Agriculture and Food, the supply of 10 major holy goods such as apples, pears, cabbages, radishes, beef, pork, chicken, eggs, chestnuts, and dates, which are in high demand from the 28th to the 10th of next month The volume will expand 1.4 times compared to normal.

Jungmin Oh/Mikyung Lee, reporter Hankyung.com [email protected]
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