The average cost of preparing the Chuseok table for ancestral rites this year has fallen four percent from last year to 304-thousand-434 won, or around 228 U.S. dollars.
According to the Korea Agro-Fisheries and Food Trade Cooperation on Friday, the latest figure was calculated through a price survey conducted last Wednesday on 28 holiday products at 16 traditional markets and 34 major distribution companies across the country.
The survey found that traditional markets offered better prices for traditional thanksgiving holiday table setting at 266-thousand-652 won while the cost at large retailers came to 342-thousand-215 won for a difference of 22-point-one percent.
By item, the prices of fruits such as apples and Korean pears are higher than last year due to a decrease in supply on the back of a poor harvest this year, while grain prices also climbed after a weaker yield.
Conversely, the price of beef is lower this year due to increased supply.
Meanwhile, the average cost of preparing a simplified ceremonial table from traditional markets came to 109-thousand-811 won compared to major supermarkets, which cost an average of 135-thousand-141 won.