Snack prices rise after Seol holiday... Ice cream, cereal, and more increase one after another

Binggrae to Raise Prices on Major Ice Creams from March
H?agen-Dazs Also Adjusts Prices from February... 11 Items Up by 1,000 Won
Cereal Prices Rise Too... Kellogg's Corn Frost Up by 200~300 Won

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] After the Lunar New Year holiday, prices of food and beverage products such as ice cream and cereal will sequentially rise.

Binggrae will raise the prices of major ice cream products like Together and Melona starting in March. Based on retail prices, Together will increase from 5,500 won to 6,000 won, and Melona from 800 won to 1,000 won. The price increase is expected to take place from March after consultations with distribution channels.

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

The imported ice cream brand H?agen-Dazs will also raise prices of 11 pint products from 12,900 won to 13,900 won starting next month. Mini sizes will increase from 4,800 won to 5,200 won.

Cereal prices are also scheduled to rise. Nongshim Kellogg has decided to increase prices for some cereal products. 'Kellogg's Corn Frost' will be adjusted from 3,000 won to 3,200 won based on convenience store prices, and 'Kellogg's Granola Cranberry' from 5,500 won to 5,800 won. These prices will be applied at convenience stores starting from the 1st of next month, while the timing of price increases at large supermarkets will be decided around the 10th. At large supermarkets, 26 products will increase by an average of 6.7%. Kellogg's Corn Frost (600g) will rise from 6,280 won to 6,580 won, and 'Kellogg's Chex Choco (570g)' will increase from 7,080 won to 7,480 won.

A Nongshim Kellogg official said, "Consumer prices are determined by distribution companies, and product prices and discount rates vary depending on the distributor and channel," adding, "Nongshim Kellogg will do its best to provide products that satisfy consumers."

Dongseo Food also raised prices of 24 products, including 'Post Almond Flake' and 'Post Corn Flake,' by an average of 9.8% on the 14th. The industry analyzes that the consecutive price increases of cereal products are due to the rise in raw material prices of corn grits, the main ingredient, and increased logistics costs.

The same applies to bread and hamburgers. SPC Group's Paris Baguette will raise prices of 66 items, including bread and cakes, out of a total of 756 items by an average of 6.7% starting next month. Hamburger franchise Mom's Touch will also raise prices of 37 products, including burgers, chicken, and side menus, by up to 900 won starting from the 3rd of next month.

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