Do cry over spilled milk: price of iconic banana flavor is going upBinggrae’s iconic banana milk will get more expensive next year.
Dairy giant Binggrae announced Friday that its popular banana milk will cost 100 won ($0.09), or 7.7 percent, more from beginning January or February. The drink currently costs 1,300 won in convenience stores.
“Though we tried absorbing rising costs [of production] ourselves in the past, we decided on the price rise this time because we could not handle the costs.” The price rise next year will be the drink’s first in six years.
Recent hikes in milk prices, including industry leader Seoul Dairy Cooperative’s August decision to raise milk prices by 3.6 percent, is believed to have influenced Binggrae’s decision.
By Kim Eun-jin
More in Industry
Doing the robot
Export growth of 6% seen by KITA next year
Big companies, fearing the worst, scramble for cash
Hyundai unveils one-size-fits-all electric vehicle module