[Exclusive] Ottogi Raises Prices of 3 Instant Rice Varieties by an Average of 8%

Excluding Cupbap... "Adjustment Due to Rising Raw Rice Prices"

[Asia Economy Reporter Lee Seon-ae] Ottogi has raised the prices of its instant rice products.

As of the 1st, Ottogi increased the prices of three types of instant rice, excluding cup rice, by an average of about 8%. This is the first price hike in over three years since November 2017. At that time, Ottogi raised the prices of three types of instant rice by an average of about 9%.

Ottogi explained, "We have tried to absorb the costs as much as possible, but due to the continuous rise in rice prices, we had to increase the prices." They also added that even after the price increase, their products remain cheaper compared to the No. 1 brand CJ CheilJedang's Hetbahn products.

Meanwhile, CJ CheilJedang raised the price of Hetbahn by about 8% on average in January last year, citing the rise in rice prices.

This content was produced with the assistance of AI translation services.