농심·오뚜기 이어 팔도도…‘컵라면’ 가격 인상 잇달아

The Paldo company announced on September 1st that it would raise the distribution price of some cup noodles and beverages starting from that date. However, the price of instant noodles will remain unchanged. The products subject to the price increase include five types of cans, two types of rice cakes, and 12 types of cup noodles and canned drinks.

The average increase rate for canned noodles and beverages is 5.5% and 5.8% respectively. Paldo explained that they adjusted the increase amount for canned noodles as little as possible to consider the burden on consumers. Paldo lowered the distribution price of Paldo-bimyeon and 19 other types of ramen by an average of 4.8% in April.

The company said, "While we have been continuously improving production efficiency and management efficiency due to rising costs, price adjustments for some items are inevitable." The food industry has been experiencing a series of price hikes. Next month, on July 7th, Oduhgi will raise the distribution price of 29 types of cup noodles and 16 types of dumplings at major retailers by an average of 6.7% and 7.7% respectively.

As a result, the prices of the 'jangmyeon spicy' and 'chaegu-myeon' cans are expected to rise from 1,200 won to 1,300 won, and the 'ssamjang' can price from 1,400 won to 1,550 won. Lax also raised the distribution price of 18 brands of yukgaejang noodles and 23 brands of snacks starting from yesterday by an average of 6.0% and 5.5% respectively.

However, Samsung Food stated that they have no plan for a price increase in the near future. Samsung Food's spokesperson said, "Our strategy is to sustain revenue growth by expanding overseas sales in place of domestic price increases." Consumer organizations criticized the food industry's price hikes, arguing that companies are shifting the burden of rising costs onto consumers without a clear basis for the increases.

The Korean Consumer Council pointed out that Lax's 2022 second-quarter cost of goods sold rate fell from 74.3% to 73.8%, while its operating profit increased. They argued that the companies' argument that they need to raise prices due to rising costs lacks persuasiveness. They further noted that while the average selling prices of key raw materials like soybean protein (milk powder) have fallen by 6-8% year-on-year, some companies are still increasing prices at similar stages and levels, questioning whether these adjustments are based on actual cost increases.

They also criticized the food industry's practice of hiking prices one after another, regardless of the overall decline in the prices of key raw materials like soybean protein and sugar, urging the industry to be transparent in providing information to consumers so they can make informed decisions.