Price of bungeo-ppang increases sharply this season
What was once a cheap winter comfort snack in Korea is quickly becoming a small luxury.
A university student, who requested anonymity, said he was shocked recently when he tried to buy bungeo-ppang ? a fish-shaped pastry filled with sweet red beans ? from a street stall.
“It used to be 2,000 won [$1.39] for three, but now it’s 1,000 won for one,” he said. “I’ve been buying it here every winter, but at that price, I hesitated. It doesn’t feel like a snack for ordinary people anymore.”
The price of bungeo-ppang, a beloved winter staple, has climbed sharply this season. Until last year, the standard was three for 2,000 won or two for 1,000 won. Now, many vendors sell them for 1,000 to 1,500 won apiece. On social media, users have lamented the rise, posting comments such as “The bungeo-ppang inflation is scary” and “I was going to buy two but settled for one.”
The surge stems largely from soaring prices of red beans, the pastry’s main ingredient. According to the Korea Agro-Fisheries and Food Trade Corporation on Sunday, the wholesale price of domestic red beans reached 784,200 won per 40 kilograms (88 pounds), only slightly below this year’s peak of 796,600 won. That’s a 58.3 percent increase from 503,200 won a year ago. Retail prices have also risen 33 percent over the same period to 13,868 won per 500 grams.
The increase reflects a decline in local cultivation. Government data shows that areas used to grow red beans in Korea fell 37 percent from 5,893 hectares (14,562 acres) in 2019 to 3,690 hectares in 2023. Production dropped 26 percent to 5,256 tons, the lowest since 2017 and the seventh lowest level since records began in 1980.
“Even though farm-gate prices have gone up, red beans remain less profitable than other crops,” an official from the Agriculture Ministry said. “Unusual weather has also hurt yields, with heat waves, droughts and heavy rains affecting the plants during germination and flowering.”
Some vendors use imported red beans instead of domestic ones, but those costs are also rising.
In Seoul’s Jongno District, 67-year-old vendor Jung Dong-ha, who has sold bungeo-ppang for two decades, said he raised his prices only last year after holding out on the decision for years. “Prices of red beans, flour and oil don’t really go down,” he said. “I tried not to shrink the size or reduce the filling, but eventually I had to raise the price. Fortunately, most of my regulars understand.”
Meanwhile, convenience stores are capitalizing on the trend.
7-Eleven recently released a mini version called “Bite-Size Bungeo-ppang” for 700 won per pair. GS25 has increased the number of stores selling bungeo-ppang from 4,000 to 5,000, and CU, seeing steady growth in roasted sweet potato sales, now sells them year-round.