"International Coffee Prices Surge" Namyang Dairy Increases Coffee Product Prices

Stick Coffee Average Price Increase 9.5%, Cup Coffee Average Price Increase 7.5%

[Asia Economy Reporter Eunmo Koo] Namyang Dairy Products announced on the 16th that it will raise the ex-factory prices of its coffee products starting from the 17th.

Namyang Dairy Products stated that due to the international surge in coffee prices and overall increases in production costs such as logistics and labor expenses, it has inevitably decided to raise the ex-factory prices. Stick coffee products will see an average increase of 9.5%, while RTD (Ready To Drink) cup coffee products will increase by an average of 7.5%.

In particular, this is the first ex-factory price increase for stick coffee products in about eight years. The company explained that the price hike is due to the international surge in coffee prices caused by poor harvests in major coffee-producing regions and increased logistics costs resulting from the impact of COVID-19.

A Namyang Dairy Products official said, "While we have inevitably raised the ex-factory prices of coffee products, the company has tried to minimize the increase by reflecting only part of the factors causing the rise in order to reduce the price burden."

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