CJ CheilJedang Cuts Sugar and Flour Prices by Up to 6%...Joins Efforts to Stabilize Prices

Price Cuts for Business-Use Sugar and Flour in Early January
Consumer Sugar and Flour Prices Also Reduced
Supporting Government Price-Stabilization Policy to Ease Consumer Burden

CJ CheilJedang is lowering prices for consumer (B2C) sugar and flour, following earlier cuts for business-use (B2B) products.

CJ CheilJedang announced that, after cutting prices for business-use sugar and flour by an average of 6% and 4%, respectively, early last month, it will now reduce the factory prices of all consumer sugar and flour products. The price cuts will apply to 15 consumer sugar items, including Baeksul White Sugar and Baeksul Brown Sugar. The reduction rate will be up to 6%, with an average of 5%. Sixteen consumer flour items, including Baeksul Glutinous Flour and Baeksul First Grade Cake, All-Purpose, and Bread Flour, will also see price reductions of up to 6%, with an average cut of 5.5%.

Last month, sugar and salt recorded their highest price increases in a year, and on the 11th sugar was displayed at Yangjae Hanaro Mart in Seoul. Photo by Kang Jinhyung

A CJ CheilJedang official stated, "We decided to lower prices to reflect recent international raw sugar and wheat price trends and to actively support the government's policy stance on stabilizing prices," adding, "We hope this will help, even if only a little, to ease the burden on consumers ahead of the holiday season."