Ottogi Joins Price Increase Trend... Ramen Prices Rise by an Average of 11%

[Asia Economy Reporter Eunmo Koo] Ottogi announced on the 16th that it will adjust the prices of ramen products by an average of 11.0% based on the shipment price starting from the 10th of next month. This is the first price adjustment in 1 year and 2 months since the last change in August last year after 13 years.

Based on large mart retail prices, Jin Ramen will be adjusted from 620 won to 716 won, a 15.5% increase; Jin Bibimmyun from 970 won to 1070 won, a 10.3% increase; Jin Jjambbong from 1495 won to 1620 won, an 8.4% increase; and Cup Noodles from 1280 won to 1380 won, a 7.8% increase.

An Ottogi official stated, “Due to the rise in raw material costs, sustained high exchange rates, and sharp increases in domestic and international logistics and other expenses, we have decided to adjust prices. Even with this price adjustment, Ottogi ramen prices remain lower than major competitors, and we will repay customers with better taste, quality products, and services.”

Earlier, Nongshim raised the shipment prices of major products including Shin Ramyun by an average of 11.3% starting from the 15th, and Paldo announced it will increase prices by an average of 9.8% from October 1st.

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