"Dongseo Foods Raises Instant Coffee Prices by 9.8%, 'Maxim' and 'Kanu' on the Rise"

[Asia Economy Reporter Eunmo Koo] Dongseo Foods announced on the 1st that it will raise the prices of instant coffee, coffee mixes, and other products by 9.8% starting from the 15th.

Accordingly, the price of Maxim Original Refill 170g will increase from 6,090 won to 6,680 won, Maxim Mocha Gold Coffee Mix 1.2kg will rise from 12,140 won to 13,330 won, and Maxim Kanu Americano 90g will go up from 15,720 won to 17,260 won.

The company explained that this price increase reflects the rise in prices of major raw materials including coffee beans, starch syrup, and sugar, as well as the increase in energy costs and the impact of the higher exchange rate. In particular, since coffee beans and major raw materials are all imported, the elevated exchange rate is adding to the burden.

A Dongseo Foods official stated, “Until now, we have internally absorbed price increase factors through cost reduction and productivity improvement, but due to the sustained high raw material prices and the impact of the strong exchange rate, it became difficult to bear the costs, leading to an unavoidable decision to raise prices at the minimum level.” He added, “Going forward, Dongseo Foods will further strengthen efforts to reduce costs and improve productivity to provide good quality coffee at reasonable prices, doing our best to ease the burden on consumers.”