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price of ramen will go up from next month. Ottogi has decided to raise the price of instant noodles for the first time in 13 years amid a rise in the price of raw ash, such as flour, and other companies are also considering raising the price, but there are concerns about the price of shopping carts.
Correspondent Han Sang-woo.
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Ottogi Ramen will increase by an average of 11.9% from next month.
This is the first price increase in 13 years since April 2008.
[Ottogi official: Due to the recent rise in the price of raw materials for food such as flour and palm oil and labor costs, we have decided to raise the price inevitably.]
Wheat, the main ingredient of ramen, rose 33% and palm oil 42% from last year.
Despite the increased cost burden, it is highly likely that other companies who have been paying attention as it is a representative food for the common people will follow suit.
Nongshim, No. 1 in the ramen industry, has maintained its price for 5 years since 2016, and Samyang Foods has also maintained its price since May 2017.
Inflation in the second quarter rose 2.5% year-on-year, the largest increase in nine years and four months, and is expected to affect perceived prices amid rising inflationary pressures.
Of the 133 items in the Consumer Price Index food and beverage categories, ramen is the 11th most weighted food.
[Mart Consumer: If it goes up, the consumer is not good, unconditionally. It's like common people's snacks... .]
[Jung Seung-seop / Yangcheon-gu, Seoul: I can feel the price increase. I feel like I should avoid going to the market if possible... .]
Already, the surge in prices of fresh foods such as eggs, milk and green onions has spread to processed foods such as ramen, which is expected to further increase the burden on ordinary people.
(Video editing: Yonghwa Jung)