"Spinach Reaches 7,000 Won per Bunch" Soaring Vegetable Prices Amid Heatwave and Heavy Rains... Processed Foods See 'Domino Price Hikes'

Soaring Grocery Prices Ahead of Chuseok
Retail Prices for Some Vegetables See Sharp Increases
Adverse Weather Hampers Growth and Distribution
Cup Noodles, Beverages, Bread, and Snacks Set for Major Price Hikes Next Month
"Burden from P

This month, repeated heatwaves and heavy rains have caused prices of fruits and vegetables, which had previously stabilized, to surge. The prices of vegetables with strong seasonal demand—such as spinach and mini cabbage—have jumped by more than 50% in just one month, while common table items like cucumbers, chili peppers, and squash have also rebounded. With major processed food products like cup noodles, beverages, bread, and frozen foods joining the trend of price hikes, consumer grocery bills are expected to increase even further ahead of Chuseok next month.

Customers are shopping at Hanaro Mart Yangjae Branch in Seocho-gu, Seoul. Photo by Jinhyung Kang

Spinach, Cabbage, and Cucumbers Nearly Double from Previous Month

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) and Korea Agricultural Market Information Service (KAMIS) on August 24, as of August 21, vegetables with the greatest fluctuations in consumer prices included spinach, mini cabbage, and perilla leaves. Notably, the retail price for 100g of spinach (standard grade) was 2,095 won, up 55.4% compared to the previous month. For a bunch weighing about 250–300g, the price—which was in the 2,000-won range at the beginning of last month—has nearly reached 7,000 won within just over a month.

During the same period, the price of a single mini cabbage rose 52.2% to 3,613 won. The average retail price of 50g of perilla leaves climbed to 1,513 won, up 25.8% from the previous month. In addition, the price of Korean cucumbers (“dadagi,” 10 count) nearly doubled to 9,623 won, compared to around 500 won each at the beginning of last month. Other vegetables also saw retail price increases in July—squash reached 1,311 won per piece and green chili peppers for pickling (“oi-mat gochu,” 100g) reached 1,075 won—an increase of roughly 10–20%.

Although these vegetable prices remain lower than last year and the average for a typical year (the average price over the past five years excluding the highest and lowest years), recent adverse weather conditions could drive further increases. An industry expert stated, “The combination of heatwaves and heavy rains has affected not only field-grown varietals in major vegetable-producing areas, but also some greenhouse crops, which could impact supply.” Another variable is the continuing forecast for daytime highs to remain above 30 degrees Celsius through next month. The retail price of apples, a traditional Chuseok ritual and gift item, for 10 Fuji apples, increased 12.6% from an average of 25,400 won last month to 28,446 won recently.

Offline retailers are closely monitoring the growing and shipping status of fruits and vegetables from production regions. A large supermarket representative commented, “We are keeping a close eye on vegetable supply in Tongyeong and Geoje, where torrential rain has recently occurred.” He added, “Currently, most major summer vegetables are being shipped from Gangwon Province, so the overall supply impact is not yet significant.” He continued, “When humidity is excessively high, there is a greater risk of disease, stunted growth, wilting, or rot that could lower quality, so we are keeping a close watch on crop conditions and shipments by region. For items that can be stored, we are using stockpiled inventory, and to prepare for potential supply disruptions, we are sourcing key vegetables from multiple production regions.”

“Raw Material Pressure”... Processed Foods Follow with Price Increases

Processed foods that are staples for ordinary households—such as cup noodles, instant rice (Hetbahn), and dumplings—are also seeing a wave of price hikes ahead of Chuseok. Food manufacturers and restaurant chains are moving to adjust product prices, as rising raw material costs (such as packaging) due to the Middle East conflict between the U.S. and Iran as well as high exchange rates have begun impacting profitability in earnest.

For example, Paldo will increase prices for 12 varieties of cup noodles—including Wangttukgyeong and Paldo Bibimmyun Cup—and nine beverage products such as Birak Sikhye starting September 1. The average ex-factory increase is 5.5% for instant noodle cups and 5.8% for beverages. Ottogi will also raise ex-factory prices for 29 cup noodle items by an average of 6.7% and for 16 dumpling products across three brands by an average of 7.7% effective September 7.

Price hikes are spreading across the processed food sector, from beverages and cup noodles to dumplings and snacks. In June, Lotte Chilsung Beverage increased ex-factory prices for 44 products across 12 beverage brands, including Chilsung Cider, by an average of 5.3%. CJ CheilJedang also raised prices by an average of 8% for 27 items across eight categories—including Hetbahn, dumplings, and grilled fish—over the past two months. Nongshim followed suit on August 1, raising average ex-factory prices for 43 brands, including instant noodle cups like Yukgaejang Sabalmyeon and Shin Ramyeon Cup, as well as snacks and beverages such as Shrimp Crackers and more, by 5.8%. An industry source commented, “We have continuously sought to improve productivity and operational efficiency to offset rising costs, but for some products, price adjustments have become unavoidable.”

In addition, restaurant chains offering bread, coffee, burgers, and more have joined the ranks of companies increasing prices. Paris Baguette will raise the prices of 86 bread varieties, 41 cakes and desserts, and more by an average of 5.0% starting August 25. Samlip will increase the prices for about 50 bread products by an average of 9% beginning September 1. Previously, Tous Les Jours—a CJ Foodville brand—announced an average price hike of 8.2% for 76 items, including bread and cake. In the first half of this year, prices for burgers and coffee chain items, such as Mega MGC Coffee, also increased.

A representative from the restaurant industry stated, “With rising costs across raw materials, supplies, and labor, we have tried to absorb as much as possible, but out of consideration for profitability, it has become inevitable for us to increase prices.”

This content was produced with the assistance of AI translation services.