Krispy Kreme Doughnuts to Raise Donut Prices by 5.8% Next Month

[Asia Economy Reporter Moon Hyewon] Krispy Kreme Doughnuts, a donut specialty store operated by Lotte GRS, announced on the 30th that it will raise the prices of its donut products by an average of 5.8% starting from the 1st of next month.

The representative product, 'Original Glazed,' will increase from the existing 1,500 won to 1,600 won. Other donut products will also be raised by 100 to 200 won each.

A Lotte GRS official explained, "We decided to raise prices due to the increase in raw material costs," adding, "In particular, the recent Ukraine situation caused wheat prices to rise, which has had an impact."

As international wheat prices rise due to Russia's invasion of Ukraine, attention is focused on whether this will lead to further price increases in the baking industry. South Korea depends on imports for about 99% of its wheat. Previously, Dunkin raised the price of its HMR (Home Meal Replacement) product, 'Mini Donuts,' from 6,900 won to 7,500 won.

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