Rising Bean Prices Lead to Increased Coffee Prices in Korea
Creatrip Team
a year ago
In South Korea, low-cost coffee chain Compose Coffee has announced a price hike for its iced Americano, increasing from 1500 to 1800 won, its first increase in 10 years. This decision is attributed to record-high bean prices and rising raw material costs amidst economic challenges. Other budget coffee brands such as MegaMGC Coffee and The Venti might follow suit due to similar economic pressures, although they currently have no plans to raise prices. This trend follows larger chain price increases like Starbucks and Hollys earlier this year. The coffee industry fears a potential domino effect in price hikes amidst continuously rising raw material costs.
