South Korea: Even prices of coffee and tofu have increased

Published 2022년 2월 17일

Tridge summary

Starting February 2022, South Korea has seen price increases in common food items like tofu and instant coffee. Leading tofu manufacturers Pulmuone and CJ CheilJedang have raised the prices of their products by 7-8% for imported soybean tofu and 7% for domestic soybean tofu. Meanwhile, Namyang Dairy has increased the price of its stick coffee products by an average of 9.5%, and RTD cup coffee products by 7.5%, marking the first increase in about eight years. The price hikes are attributed to rising costs of raw materials and other expenses.

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

Original content

Pulmuone-CJ CheilJedang, tofu up to 8%↑ Namyang Dairy, first time in 8 years, stick coffee 9.5%↑ Starting this month, the price of ‘common food’ such as tofu and instant coffee will rise one after another. As the food industry joins the ranks of price hikes one after another, the cost of shopping carts is increasing. Pulmuone and CJ CheilJedang, which rank first and second in the domestic tofu market, announced on the 16th that they had increased the price of tofu products this month. First of all, Pulmuone raised the price of imported soybean tofu products by 7-8% on the 10th. The price for pancakes has risen from 1,350 won to 1,450 won based on 290g, and for stews has been increased from 1250 won to 1350 won. From the 17th, the price of 'Pulmuone Domestic Soybean Two Cup Tofu 600g' sold in bundles at large marts will also increase by 4.6% to 5,950 won. CJ CheilJedang also raised the price of its tofu brand ‘Happy Bean’ on the 3rd. Imported soybean products rose ...

Source: Donga