Ottogi will increase prices on some of its cup noodles and dumpling products.
The company announced on August 13 that starting September 7, it will raise the ex-factory prices of 29 items across 11 cup noodle brands by an average of 6.7% and 16 items across 3 dumpling brands by 7.7%.
The price adjustments will affect products including Jin Ramen, Yeol Ramen, Sesame Ramen, and Cup Noodles, as well as select items from the premium dumpling brand 'X.O.' The changes will first apply at large supermarkets, with retail prices adjusted through discussions with distributors.
As a result, the expected retail price for the Jin Ramen Spicy Cup (110g) and Yeol Ramen Cup (105g) will increase by 100 won, from 1,200 won to 1,300 won each. The Sesame Ramen Cup (110g) is expected to rise by 150 won, from 1,400 won to 1,550 won.
Among the dumpling products, the X.O. Gyoza (324g×2) and Gyoza with Shrimp & Crab (324g×2) will see a price increase of 1,000 won, from 10,480 won to 11,480 won each.
However, all instant noodles, which account for about 60% of total noodle sales, will not see any price increases.
Ottogi cited rising costs of raw materials and packaging due to high exchange rates and fluctuations in international oil prices as the reasons for the price hike. The company has been working on improving production efficiency and reducing costs, but it determined that price adjustments for some items were unavoidable due to prolonged cost pressures.
An Ottogi representative stated, "Due to the cumulative cost burden from rising prices of key raw materials and packaging, we have decided to adjust the ex-factory prices of some products. We have kept the prices of instant noodles stable to consider consumer burden and will continue to strive to minimize price increase factors while ensuring stable product supply."
Earlier, Nongshim also raised the ex-factory prices of 43 brands of noodles, snacks, and beverages by an average of 5.8% starting August 1. The average price increase by item was 6.0% for cup noodles, 5.5% for snacks, and 7.7% for beverages.
* This article has been translated by AI.
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