Coca-Cola to raise prices by some 5.5% — but not for flagship beverage

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Coca-Cola to raise prices by some 5.5% — but not for flagship beverage

Published: 21 Apr. 2025, 17:54 Updated: 21 Apr. 2025, 18:14

Audio report: written by reporters, read by AI

Bottles of Spirte and Fanta are stacked in a refrigerator at a market in Seoul on April 21. [YONHAP]

Coca-Cola Beverage will raise the factory prices of several products including Sprite, Fanta, Minute Maid and Georgia coffee drinks by an average of 5.5 percent starting May 1, according to industry sources on Monday.

The price of Coca-Cola, however, will remain unchanged.

Under the new pricing, the price of a 350-milliliter (12-ounce) can of Sprite will increase from 1,800 won ($1.20) to 1,900 won, while the price of a 350-milliliter can of Fanta will rise from 1,600 won to 1,700 won.

A 600-milliliter plastic bottle of Powerade will be priced at 2,400 won, and a 350-milliliter bottle of Minute Maid will go up by 100 won to 2,000 won.

Coca-Cola Beverage attributed the increase to rising costs of raw materials and production. The international price of aluminum — the main material for cans — rose 7.4 percent on average last year compared to 2023.

In the first quarter of this year, it surged nearly 20 percent compared to the first quarter of last year, marking the highest level in the past 10 quarters.

While PET prices have remained relatively stable on international markets, rising processing costs such as electricity and labor are expected to push supplier prices up by around 8 percent.

Coffee beans have also reached record-high prices, driven by poor harvests linked to extreme weather conditions. The weakening Korean won has further increased the cost burden for raw materials and supplies.

“Cost pressures remain due to growing economic uncertainty both at home and abroad, including tariffs imposed under the Donald Trump administration,” a Coca-Cola spokesperson said. “We minimized the rate of increase and the number of affected products through consultations with relevant government agencies to reduce the burden on consumer prices.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY JEONG JAE-HONG [[email protected][