Choco Song-i, Even You... Orion Raises Snack Prices by an Average of 10%

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The price of Orion Ojingeo Ttangkong will rise for the first time in 13 years. Choco Songyi will also see a price increase for the first time in 11 years.

Orion Choco Song-i.

Orion announced on the 27th that it will raise the prices of a total of 13 products by an average of 10.6% starting December 1. The price hikes target products with a high proportion of raw materials such as cocoa, whose prices have surged sharply, resulting in a steep decline in profit margins.

The main price increase rates by product are: Choco Songyi 20%, Market O Brownie 10%, Tokping 6.7%, and Ojingeo Ttangkong 6.7%.

Considering consumer burden, Orion decided to temporarily suspend the supply of some products like To You, which require a price increase of over 30%, instead of raising their prices.

However, Choco Pie was excluded from this round of price increases. Due to global climate anomalies, the international market price of cocoa, the main ingredient of chocolate, has surged more than fourfold over the past two years. Nuts have also nearly doubled in price over six years. An Orion official said, "We decided on this price increase based on market forecasts that cocoa and nut prices will continue to rise for the coming years."

The extent of the price increase was set at a level that minimizes consumer burden while protecting against operating losses.

Among the 13 targeted items, 9 have maintained their prices for over 10 years, but with this price increase, Market O Brownie will see a rise after 16 years, Ojingeo Ttangkong after 13 years, and Choco Songyi after 11 years.

An Orion official stated, "Even after this price increase, 12 products, accounting for 20% of Orion’s total 61 items, still have prices frozen for over 10 years. We will continue to make every effort to provide consumers with delicious and high-quality products at good value through ongoing cost reductions."

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