The price of Yangyang pine mushrooms has fallen below 1 million won per kg after auctions were suspended for a single day on Chuseok.

However, despite a significant increase in production, the price for Grade 1 remains at an ultra-high level, exceeding 900,000 won.

According to the Yangyang-Sokcho Forestry Cooperative, Grade 1 pine mushrooms were priced at 909,600 won per kg at the Yangyang pine mushroom auction held on the 26th.

Dropping by about 110,000 won from 1,017,950 won on the 24th, the price fell below 1 million won for the first time since this year's auctions began.

A total of 664 kg of Yangyang pine mushrooms were purchased at the auction that day. As the auction resumed after a two-day break following the suspension on Chuseok day (the 25th), it effectively meant that two days' worth of production was shipped out all at once.

Production of Yangyang pine mushrooms has been increasing rapidly since the beginning of the auction season.

The daily purchase volume, which stood at 110 kg on the 17th, grew to 379 kg by the 24th. With the addition of 664 kg from the two-day accumulation on this day, the cumulative production has increased to 2,556 kg.

Along with the increase in production, prices are showing a downward trend. After peaking at 1,578,800 won on the 21st from 1,201,900 won on the 17th, the Grade 1 price dropped to 1,120,900 won on the 23rd, 1,017,950 won on the 24th, and finally into the 900,000-won range on this day.

Nevertheless, even though production has increased significantly compared to the same period last year, the ultra-high-price rally continues with Grade 1 prices still surpassing 900,000 won.

In particular, analysts suggest that while pine mushroom vendors are experiencing poor business sentiment due to sluggish general consumption caused by the economic recession, Chuseok gift demand has propped up the prices.

As pine mushroom prices typically begin a serious downward trend around Chuseok as holiday demand disappears and production increases, attention is focused on how far the prices will fall going forward.

Pine mushroom vendors stated, "With Chuseok behind us and gift demand decreasing, prices are expected to drop in earnest," adding, "As production has increased, we hope prices will fall to a level where general consumers can look for pine mushrooms without burden."