White Milk 1ℓ at Around 2,800 Won... Food Prices Including Dairy and Coffee 'Fluctuate'

White Milk Prices Rise Simultaneously
'Milkflation' Concerns Become Reality

On the 17th, when dairy companies simultaneously raised milk prices, milk was displayed on the dairy shelf at a large supermarket in Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Song Seung-yoon] As the price of white milk has risen across the board, prices of other food products such as dairy products, bread, and coffee are also fluctuating. Following the increase in raw milk prices, a chain reaction of price hikes has occurred, creating an atmosphere where the much-feared "milkflation" is becoming a reality.

According to the industry on the 19th, major domestic dairy companies such as Seoul Milk Cooperative, Maeil Dairies, and Namyang Dairy Products implemented price increases for white milk and other products on the 17th. Seoul Milk raised the prices of all milk products by an average of 6%. The price of the 1000ml white milk product increased by 6.6%, rising from 2,710 won to the high 2,800 won range at large supermarkets. Seoul Milk also decided to raise the price of its cafe-exclusive milk, "Milk Master," by about 6.3%. However, the timing of the increase requires negotiation by distribution channel, so it will take effect from the 1st of next month rather than on the 17th. In addition, Seoul Milk raised the prices of fresh cream and butter by 10% and 7%, respectively, and the wholesale price of the fermented milk product "Biyotte" was also increased by around 5%.

On the same day, Maeil Dairies raised the price of its 900ml white milk product from 2,610 won to 2,860 won, a 9.6% increase, and also increased the wholesale prices of chocolate milk and strawberry milk by about 10%. Earlier, before the raw milk price decision, Maeil Dairies had already raised the prices of fermented milk products by 15-25% last month and increased the prices of sour cream and whipping cream by 6-7%.

Namyang Dairy Products also raised the price of its 900ml white milk product from 2,650 won to the high 2,800 won range at large supermarkets, an increase of about 8%. Dongwon F&B also raised milk product prices by an average of 5% starting that day. hy will sequentially raise product prices from the 1st of next month. Helicobacter Project Will will increase consumer prices from 1,500 won to 1,600 won, and Metchnikoff will increase from 1,300 won to 1,400 won, each rising by 100 won. Binggrae will raise the price of banana-flavored milk by about 13%, from 1,500 won to 1,700 won at convenience stores. Good Morning Milk sold through channels other than convenience stores will increase by 8%, and Yoplait Original will rise by 16%.

As dairy product prices continue to rise, prices of other foods that use milk as an ingredient, such as bread, ice cream, and coffee, are also fluctuating. In fact, at the end of last year, due to the increase in milk prices, Starbucks, Paris Baguette, and Baskin-Robbins raised their prices one after another from the beginning of the year. This time as well, price increases are expected to continue in industries that use a lot of dairy products. Ediya Coffee, which had temporarily postponed price increases last month, is planning to raise prices again for the first time in four years. Other companies are also entering a "wait-and-see" mode and are reviewing price increases.

The concerns of individual self-employed operators running cafes and dessert specialty stores have deepened. As the supply prices of dairy products such as milk and cream have already risen or are expected to rise, cases of menu price increases are also continuing.

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