Korean instant noodle brand farmers announced that the average factory price of instant noodles was raised by 11.3%

[Global Times Comprehensive Report] South Korean instant noodle brands have announced that starting from September 15, the factory prices of instant noodles and major snack products will be increased by an average of 11.3%and 5.7%.

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According to South Korea's "Korean Daily" reported on the 1st, this is the price increase after raising instant noodles in August last year and the price increase of snacks in March this year. Regarding the reasons for the price increase, the agricultural mind explained that the price of raw materials that began in April this year caused the price of raw materials to rise. In the second quarter of this year, the supply price of domestic cooperative companies in South Korea also rose, and the production cost was high. The Yonhap News Agency believes that the price increase of farmers in the Korean instant noodle industry will have an impact on the price adjustment of other companies. It is reported that the import price of raw materials has increased, and the fierce competition among companies, and it is difficult for instant noodle companies to obtain high profits in the domestic market in South Korea. "North Korea Daily" said that in addition to farming, there are 26 instant noodle brands and 23 fast food brands that will increase the price after the Mid -Autumn Festival. It is reported that the price of Silicon Noodles, which is 736 won (1,000 won, about 5.1 yuan) per bag, is expected to rise to about 820 won.

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