"Processed Meat and Ready-to-Eat Meal Prices Rise" Lotte Confectionery to Increase Some Product Prices by an Average of 9%

Lotte Confectionery 'Shefood Sirloin Whole Tonkatsu'

[Asia Economy Reporter Koo Eun-mo] Lotte Confectionery announced on the 1st that it will raise the prices of some processed meat products and convenience foods by an average of 9.0%.

The products subject to price adjustment this time include four types of processed meat products such as ham, bacon, sausage, and fish meat, as well as two types of convenience foods such as pork cutlet and dumplings. By product, the consumer price of Uiseong Garlic Gimbap Ham (200g) will increase from 2,990 won to 3,280 won, Uiseong Garlic Ham (440g) from 7,480 won to 7,980 won, and Lotte Vienna (260g+260g) from 7,980 won to 8,980 won. The consumer price of Chef Food Sirloin Pork Cutlet (300g) will also rise from 7,480 won to 7,980 won.

Lotte Confectionery plans to first raise prices for products distributed in discount stores this month, and then increase prices for convenience store distributed products in September to October. According to Lotte Confectionery, the prices of various raw and subsidiary materials have risen to an unbearable level, making cost reduction efforts reach their limit, and they had no choice but to raise prices for some products. According to Lotte Confectionery, the price of raw meat has increased by more than 45% compared to last year, and the prices of subsidiary materials have risen by 30% to over 70% depending on the type.

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