Binggrae to Raise Ice Cream Product Prices Starting March

[Asia Economy Reporter Song Seung-yoon] Binggrae announced on the 27th that it will raise the prices of major ice cream products such as Together and Melona starting in March.

Based on retail prices, Together will increase from 5,500 won to 6,000 won, and Melona will increase from 800 won to 1,000 won. The price increase is expected to be implemented sequentially from March after consultations with distribution channels.

A Binggrae official explained, "Recently, the domestic raw milk price increase and the rise in raw material costs for auxiliary materials such as international petrochemicals and paper pulp have caused manufacturing costs for all products to rise to an unbearable level. We tried to reduce the factors for the increase through management efficiency, but labor costs, logistics costs, and selling and administrative expenses have also risen, intensifying management pressure."

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