OTOKI(007310) said on the 13th that, starting on the 7th of next month, it will raise the average factory prices at big-box retailers by 6.7% for 29 items across 11 cup-ramen brands and by 7.7% for 16 items across 3 dumpling brands.
Based on big-box retailers, the expected retail prices are projected to be adjusted from 1,200 won to 1,300 won for Jin Ramen spicy cup (110g) and Yeul Ramen cup (105g), and from 1,400 won to 1,550 won for sesame ramen cup (110g).
OTOKI's premium dumpling brand "X.O." gyoza (324g×2) and gyoza shrimp & red snow crab meat (324g×2) will be adjusted from 10,480 won to 11,480 won.
OTOKI said, "It is because cost pressures have accumulated due to rising prices of key materials and supplies and packaging, as well as a strong won-dollar exchange rate," adding, "This factory price adjustment will first apply to big-box retailers, and sales prices by distributor will be reflected after consultation."
OTOKI added that, to ease consumers' burden when buying ramen, it excluded all bagged-ramen items, which account for about 60% of total ramen sales, from this price adjustment.
Earlier, starting on the 16th of last month, OTOKI raised factory prices for 29 items across product lines such as curry, glass noodles, ketchup and pepper.