Following Nongshim and Ottogi, Samyang and Paldo Also Raise Ramen Prices (Comprehensive)

Samyang Foods Raises Prices of 13 Brand Products by an Average of 6.9%
Paldo Increases Ramen Prices by an Average of 7.8%

[Asia Economy Reporter Lim Hye-sun] Following Nongshim and Ottogi, Samyang Foods and Paldo will also raise ramen prices starting from the 1st of next month.

On the 11th, Samyang Foods announced that it will increase the recommended retail prices of 13 brand products, including Samyang Ramen and Buldak Bokkeum Myun, by an average of 6.9%. This is the first price increase by Samyang Foods in 4 years and 4 months since May 2017. Paldo will also raise ramen prices by an average of 7.8%. This is the first price increase for all products in 9 years and 2 months since June 2012. The main product price increases based on supply prices are Bibimmyun 10.9%, Wang Ttukbaegi 8.6%, Dosirak 6.1%, and Ilpum Seafood Ramen 6.3%. Actual selling prices may vary depending on the retailer.

Earlier, Nongshim announced that it will raise the shipment prices of major ramen products such as Shin Ramyun by an average of 6.8% starting from the 16th. The main product price increases based on shipment prices are Shin Ramyun 7.6%, Ansungtangmyun 6.1%, and Yukgaejang Bowl Noodles 4.4%. Ottogi also raised prices of major ramen products such as Jin Ramen by an average of 11.9% starting from the 1st. Jin Ramen (mild and spicy) prices increased by 12.6%, and Snack Noodles by 11.6%.

The reason ramen companies are implementing price increases is due to rising costs. A representative from Samyang Foods stated, "Since ramen is a representative affordable food, we tried to bear the burden of rising costs through production efficiency, but due to continuous increases in labor costs, logistics costs, and other expenses, as well as pressure from rising raw material costs such as palm oil, flour, and soup, it became inevitable to raise prices."

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