CJ Cheiljedang to raise sugar prices by 8.9 pct

SEOUL, Aug. 12 (Yonhap) -- CJ Cheiljedang Corp., South Korea's largest food and
feed company, said Wednesday that it will raise sugar prices by 8.9 percent with
shipments starting on Aug. 17 to reflect rising manufacturing costs.

The price of refined sugar will rise to 1,109 won (US$0.89) per kilogram from the
current 1,019 won, CJ Cheiljedang said in a statement.
The company said the price hike was inevitable as global prices of raw sugar have
risen more than 80 percent this year.
CJ Cheiljedang currently occupies over 40 percent of South Korea's sugar market,
the company said.
sam@yna.co.kr
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