[Featured Stock] Samyangsa Hits 52-Week High... Impact of Soaring Sugar Prices

Sugar Price Increase is the Main Cause
52-Week High in 3 Months
Daehan Sugar and CJ CheilJedang Also Rise

Samyang Corporation recorded a 52-week high due to the impact of rising sugar prices.

As of 10:54 AM on the 14th, Samyang Corporation is trading at 59,900 KRW, up 15.41% (8,000 KRW) from the previous trading day. During the session, it reached a high of 62,100 KRW, surpassing the 52-week high of 60,200 KRW recorded last March.

Other sugar-related stocks are also showing an upward trend. CJ CheilJedang is trading at 384,000 KRW, up 2.67%, and Daehan Sugar is trading at 3,455 KRW, up 5.66%.

It appears that the continuous rise in sugar prices, which are widely used in processed foods such as snacks, bread, and ice cream, has affected related stocks. According to the Korea Consumer Agency's Price Comparison Portal, sugar prices have shown double-digit increases for 10 consecutive months, from 13.9% in August last year to 20.4% last month.