Coffee Prices Also Raised Due to Rising Raw Material Costs Such as Coffee Beans and Milk

[Asia Economy Reporter Eunmo Koo] Coffee Bean Korea will raise the prices of major coffee drinks by 100 to 300 won starting from the 10th. This is an additional increase just three months after raising coffee menu prices in February.

Coffee Bean Korea announced on the 6th, "We had kept beverage prices frozen for the past four years and raised them by a minimal amount of 100 won in February this year. However, due to the rising costs of raw materials such as coffee beans and milk, we have been forced to increase some menu prices by an additional 100 to 300 won."

Prices for coffee menu items such as Americano and Latte, excluding sparkling drinks and tea, will all increase. The small size Americano will rise by 200 won to 5,100 won, and the small Cafe Latte will also increase by 200 won to 5,600 won.

Coffee Bean Korea also raised coffee menu prices by 100 won in February and increased prices of 10 types of tea menus, including English Breakfast, by up to 20% in January. The company stated, "We decided on this additional price increase to continue providing the highest quality service, and we ask for our customers' understanding."

Since last year, price hikes at major franchise coffee shops have continued due to rising international coffee bean prices, minimum wage increases, and logistics cost increases that started earlier this year. Earlier this year, major coffee shops such as Starbucks, Twosome Place, Hollys, Tom N Toms, and Paul Bassett raised product prices one after another citing increased raw material costs.

The price increase was led by Starbucks. Starbucks raised prices on 46 out of 53 beverage items by 100 to 400 won. The Americano price increased from 4,100 won to 4,500 won. Starbucks had previously maintained prices by securing large-scale contracts for coffee beans and milk and managing stockpiles to absorb cost increases, but this year chose to raise prices.

Hollys raised coffee prices by 400 won and Hollichino and chocolate items by 200 won. Twosome Place increased prices on 21 out of 54 coffee beverages. Tom N Toms raised prices on 31 beverage items and 13 bakery and dessert products, and Coffee Bean Korea also increased major coffee prices by 100 won each. Last month, Paik’s Coffee also raised prices on some beverages and desserts by 200 to 500 won.

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