"Choco Pie Price Also Rises"... Orion Raises Product Prices for the First Time in 9 Years

[Asia Economy Reporter Song Seung-yoon] Orion announced on the 13th that starting from the 15th, it will raise the prices of 16 products, including pies, snacks, and biscuits, out of a total of 60 production items by an average of 15.8%.

By major products, Choco Pie will increase by 12.4%, and Pokachip, Kkobukchip, and Yegam will increase by 12.3%, 11.7%, and 25%, respectively. Prices of 44 products, including Ojingeo Peanut, Digestive, Whale Snack, Dr. You Energy Bar?Protein Bar, and My Gummy, will not be raised. Orion plans to increase product quantity or lower product prices if raw material and energy costs stabilize downward in the future.

Orion has frozen prices on all items for nine years since 2013 through cost reduction efforts. However, since last year, prices of major raw materials such as dairy, sugar, and potatoes have surged, making it difficult to bear the costs. Therefore, it decided to raise prices mainly on products whose profit margins sharply declined due to rising raw material and energy costs. Until the first half of this year, it defended profit decline based on sales growth, but profitability sharply decreased in the second half, leading to the price increase.

An Orion official said, "We will continue to make our best efforts to uphold our management philosophy of providing delicious and high-quality products at reasonable prices."

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