South Korea: After chicken, canned tuna, and makgeolli; domino increase in food prices

Published 2021년 11월 19일

Tridge summary

Dongwon F&B is increasing the prices of its canned tuna products by an average of 6.4% from next month, the first increase in about five years, due to rising food raw material prices and labor costs. Kuksoondang is also increasing the price of its makgeolli by up to 25% from next month, and Heineken Korea has increased the price of canned beer. Other food companies are also expected to increase prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

News 1 The cost of shopping carts is increasing as prices from canned tuna to makgeolli and canned beer rise one after another. Dongwon F&B announced on the 19th that it will raise the prices of 22 canned tuna products by an average of 6.4% from the 1st of next month. It is the first time in about five years since 2017 that the price of canned tuna has been raised. The flagship product ‘Dongwon Tuna Light Standard’ will be raised by 8.5% to 2,800 won based on 150g. The price of 'Dongwon Tuna Light Standard 135g 4 pieces' is expected to rise by 5% to exceed 10,000 won. However, 'Dongwon MSC Tuna' and 'Dongwon Tuna Cube', released in the second half of this year, are excluded from this price increase. The price of makgeolli, a ‘common liquor’, also rises. On the same day, Kuksoondang announced that it would raise the price of makgeolli by up to 25% starting next month. The supply price of ‘Kuksundang Makgeolli Rice (750ml)’, a representative product, will ...

Source: Donga