Lotte Wellfood said on the 19th it will cut prices of confectionery and frozen treats following B2B (business-to-business) edible oil.
Lotte Wellfood will lower prices by up to 20%, an average of 4.7%, on nine items including confectionery, frozen treats, and mass-produced bread. The price cuts take effect on shipments from Apr. 1 and will be applied sequentially by distribution channel.
A Lotte Wellfood official said, "We are continuing strong structural reforms, including voluntary retirement, to overcome an extremely deteriorated business environment due to rising overall cost burdens," and added, "However, we decided on this price cut to join the government's price-stability stance and to share the burden with people struggling with recent high oil prices."
By item: ▲ Eomma Son Pie 127g will be reduced 2.9% from 3,400 won to 3,300 won ▲ Eomma Son Pie 254g will be reduced 2.9% from 6,800 won to 6,600 won.
For candy: ▲ Cheongpodo Candy 153g ▲ Peach Candy 153g, two items, will be lowered 4% from 2,500 won to 2,400 won. ▲ Cheongpodo Candy 323g will be cut 4% from 5,000 won to 4,800 won.
For mass-produced bread, "Girin Wang Manju 95g" will be cut 6.7% from 1,500 won to 1,400 won, and "Girin Bite-size Honey Hotteok 250g" will be cut 5.3% from 3,800 won to 3,600 won.
For frozen treats, "Chalttok Milk Bingsuseol 250ml" will be cut 6.7% from 3,000 won to 2,800 won, and "Wa Soda Flavor 140ml Pencil" will be lowered 20% from 1,000 won to 800 won.
On the 12th, it also said it would cut the price of an 18L B2B soybean oil product by 3%.