"I went to buy spinach and was shocked by the price." — a homemaker
Food prices are flashing warning signs ahead of the Chuseok holiday, with spinach in particular disappearing from store shelves after a heat wave sent its price soaring more than 100 percent in a single month.
According to Korea Agricultural Marketing Information Service (KAMIS) data, the average retail price of spinach per 100 grams stood at 2,108 won as of Aug. 14 — a 100.8 percent jump from 1,050 won on July 14. Cucumbers also climbed more than 50 percent over the same period, while perilla leaves and zucchini posted gains ranging from roughly 20 percent to 60 percent.
The spinach price surge is rippling through to kimbap prices as well. Small eateries are either dropping spinach from their kimbap ingredients or raising prices outright.
The average price of kimbap in Seoul rose from 3,723 won in December last year to 3,869 won in July this year, with some stores charging as much as 6,000 won. Major franchise Gimgane raised the price of its signature kimbap from 3,900 won to 4,500 won and its tuna kimbap from 4,900 won to 5,500 won.
Even with higher prices, rising ingredient costs are forcing neighborhood snack restaurants to close. According to the National Tax Service's tax statistics portal, the number of snack restaurant operators nationwide stood at 47,863 as of June — down for 31 consecutive months since November 2023, when it reached 54,088. Caught in a structure where raising prices still means losing money, a growing number of these eateries are substituting other ingredients for spinach or simply reducing portion sizes to stay afloat.
The Bank of Korea's producer price index report for August 2026, released Friday, also showed spinach prices surging 51.9 percent in a single month due to poor harvests. While the magnitude varies depending on survey timing and methodology, every available measure points to the same conclusion: spinach prices have spiked sharply.
Meanwhile, the overall producer price index for August rose 0.2 percent from the previous month, driven by higher prices for agricultural, forestry and fishery products, which climbed 3.8 percent. Heat wave conditions pushed agricultural product prices up 4.9 percent and livestock prices up 2.8 percent. Pork prices rose 5.4 percent as supply tightened due to livestock deaths, and other fish categories gained 7.3 percent.
park@heraldcorp.com
