Ottogi Joins Cup Noodle Price Hikes
Ottogi will raise factory prices for major products including cup noodles and dumplings from on Sep. 7, joining the broader rise in food prices. The move is seen as the result of mounting cost burdens driven by higher raw material prices and the strong won-dollar exchange rate.Ottogi announced on Au
Ottogi, a leading food manufacturer, has announced a price hike for its major products, including cup noodles and dumplings, effective Sep. 7. This move is a response to mounting cost burdens resulting from higher raw material prices and the strong won-dollar exchange rate. The company will raise the average factory price of 29 items under 11 cup noodle brands by 6.7%, and prices for its dumpling category will be adjusted upward by an average of 7.7% across 16 items under three brands.
Notable price increases include a 100 won rise for Jin Ramen Spicy Cup (110g) and a 150 won increase for Sesame Ramen Cup (110g). Ottogi has also adjusted prices in the frozen food category, with premium dumpling brand 'X.O.' Gyoza (324g, two-pack) and Gyoza Shrimp & Red Snow Crab Meat increasing by 1,000 won.
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