Traditional markets stay on top for low prices

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Traditional markets stay on top for low prices

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Prices of some items at traditional markets were as much as 38 percent cheaper than the same products at large discount store chains and super supermarkets (SSM), the Agency for Traditional Market Administration said yesterday.

The agency under the Small and Medium Business Administration commissions the National Council of Homemakers’ Classes bimonthly to survey prices of 40 items at 36 traditional markets, 36 large discount store chains and 36 SSMs. The survey is intended to promote the use of traditional markets by providing price comparisons of identical products.

The latest price survey showed that the average price of the 40 items at traditional markets was 267,817 won ($236.48), 9.6 percent less than large discount store chains (296,400 won) and 12.7 percent lower than SSMs (306,899 won).

When compared to large discount stores, 30 items were less expensive at traditional markets; 36 were cheaper than at SSMs.

The biggest bargain at traditional markets was dried fish, which cost 21.8 percent less than at large discount store chains, followed by vegetables, meat, grains, processed foods and manufactured goods.

When compared to SSMs, dried fish products at traditional markets were 18.8 percent cheaper and vegetables 17.6 percent less.

When looking at trends for the 40 surveyed items, vegetable prices have slipped as production increased due to favorable weather and meat also fell due to a stable supply. Increasing demand push up prices for chicken.

As the consumption of seasonal fruits such as strawberries increased, the price of apples and pears fell.

By Kim Jung-yoon [kjy@joongang.co.kr]

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