Binggrae Raises Prices of Major Dairy Products... Banana Flavored Milk Up 7.1%

[Asia Economy Reporter Seungjin Lee] Binggrae announced on the 1st that it will raise the prices of major dairy products, including Banana Flavored Milk and Yoplait.

The price increase is based on the shipment price, with Banana Flavored Milk rising by 7.1% and Yoplait Original by 6.4%.

The final price increase is expected to be applied sequentially from mid-October after consultations with distribution channels.

Accordingly, the price of Banana Flavored Milk at convenience stores is expected to increase from 1,400 won to 1,500 won, and Yoplait Original Multi (4-pack) from 2,800 won to 2,980 won (based on discount stores).

Binggrae explained the reason for the increase, stating, “Due to recent rises in domestic raw milk prices, as well as international grain prices such as raw sugar, and the cost of raw materials for auxiliary materials like petrochemicals and paper pulp, the manufacturing cost of almost all products has increased to an unmanageable level. Internally, we tried to reduce the factors for the increase through management efficiency, but with rising labor costs, logistics costs, and selling and administrative expenses, management pressure is intensifying.”

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