From instant rice to canned tuna and beer, food prices rise ahead of Chuseok

Prices are climbing across grocery shelves and dining establishments ahead of Chuseok, with instant rice, canned tuna, beverages, alcohol and restaurant meals all becoming more expensive.

Ottogi raised convenience-store prices on Sept. 1 for 21 products across three rice categories. Three-packs of its germinated brown rice and germinated black rice rose from 6,800 won to 8,800 won, a 29.4% increase. Other products also saw double-digit increases, including Ottogi Small Rice, up 23.5%, Ottogi Delicious Big Rice, up 21.4%, and a 210-gram pack of Ottogi Rice, up 20%.

Prices at major supermarkets will rise by about 7% to 9% from Sept. 7. This marks Ottogi’s first rice-price increase since April 2022, according to the report.

Dongwon F&B also raised factory prices for canned tuna products, including Dongwon Tuna, by an average of 9% on Sept. 1. Some beverage products increased by roughly 9% to 10%. Companies said higher exchange rates and rising costs for raw materials, packaging and logistics had built up to a level they could no longer absorb. The increases have intensified concern over holiday shopping costs.