CJ CheilJedang (097950.KS) will raise prices on 27 products, including its Hetbahn instant rice, starting late this month.
The company said on the 16th that it will increase prices on 27 products across eight categories, including Hetbahn, dumplings and grilled fish, by an average of 8%.
By product, Hetbahn will see the largest increase at 12%. Grilled fish will rise 8.4% and dumplings 4.6%. The new prices will take effect at large discount stores from the 30th of this month and at convenience stores from the 1st of next month. However, Hetbahn Cupbahn products, desserts, jang sauces such as gochujang, and refrigerated and frozen noodle products, which are popular among younger consumers, are excluded from the increase.
The company explained that it made the decision as cost burdens continued amid rising prices of key raw and subsidiary materials as well as packaging costs such as naphtha. "We have absorbed price increase factors as much as possible, but with continued rises in key raw and subsidiary material costs, cost burdens have grown, leading us to adjust prices on some products," a CJ CheilJedang official said. "We minimized the number of products and the extent of the increases in consideration of the burden on consumers."
