OTOKI will raise the factory prices of some products, including curry and glass noodles.
According to the industry on the 13th, OTOKI will adjust factory prices for 29 items across four categories—curries, glass noodles, ketchup, and pepper—starting on the 16th.
The average increase by category is 6.1% for curries and ketchup, respectively. Glass noodles will rise an average of 10.0%, and pepper 17.0%.
The higher factory prices will be reflected in retail prices sequentially across distribution channels starting on the 16th.
Representative item prices will rise as follows: "3-day aged curry, mildly spicy" 80g from 3,200 won to 3,680 won; "Old-style glass noodles" 500g from 7,180 won to 7,950 won. "Tomato ketchup" 300g from 2,180 won to 2,480 won, and "Pure pepper can" 50g from 4,850 won to 5,380 won, respectively.
This price adjustment stems from higher prices for food packaging materials due to fluctuations in international crude oil and naphtha prices, along with accumulated pressure from various raw and subsidiary material costs. Recently, in the food industry, prices have been moving as manufacturing costs for materials and supplies, packaging, and logistics rise simultaneously. Earlier, Lotte Chilsung Beverage raised factory prices for 44 items across 12 brands, including Chilsung Cider and Pepsi-Cola, by an average of 5.3% starting on the 26th of last month.
An OTOKI official said, "With packaging material prices rising due to fluctuations in international crude oil and naphtha prices, and a strong won-dollar exchange rate persisting, import expense for major materials and supplies has also increased, significantly expanding manufacturing cost burdens, leading us to adjust factory prices for some products," and added, "We will continue to work to reduce costs and improve productivity and do our best to minimize the burden on consumers."