Lotte Confectionery Temporarily Delays Price Increase Plans for Ice Cream and Confectionery in Convenience Stores... "Provisional Postponement"

Lotte Confectionery has decided to postpone its plan to adjust convenience store prices for ice cream and snacks scheduled for next month.

[Image source=Yonhap News]

According to industry sources on the 28th, Lotte Confectionery has put on hold its plan to raise convenience store prices for frozen desserts and snacks planned for next month. However, this does not mean a complete withdrawal of the price adjustment, but rather a postponement of the implementation timing.

Since the beginning of this year, Lotte Confectionery has announced price increases for some products and has been adjusting prices of certain frozen items such as mandu according to distribution channels.

Previously, other food companies also announced price increase plans but later withdrew them. Pulmuone's affiliate Pulmuone Saemmul canceled its plan to raise prices for bottled water products starting from the 1st of this month, and CJ CheilJedang also retracted its price increase plans.

HiteJinro and OB Beer have also officially stated that there are no plans to raise prices for domestic soju and beer products for the time being.