Coca-Cola Beverage will increase factory prices for several of its beverage lines by an average of 5.5% starting 1 May. The change affects products such as Sprite, Fanta, Minute Maid, Powerade, and Georgia coffee drinks, though the company’s flagship Coca-Cola brand will not be impacted.
The updated pricing includes a 100-won increase for a 350ml can of Sprite (now 1,900 won) and Fanta (1,700 won), while Minute Maid in a 350ml bottle will also see a 100-won rise to 2,000 won. Powerade in a 600ml plastic bottle will be priced at 2,400 won.
The company cited rising input costs as the main reason behind the hike. Aluminium prices — critical for can production — rose 7.4% on average last year and spiked nearly 20% in Q1 compared to the same period in 2023. Although PET plastic prices have been stable, manufacturing costs like electricity and labour have risen by about 8%.
Global coffee prices have reached record levels due to poor harvests tied to extreme weather. The Korean won’s depreciation has further inflated the cost of imported raw materials.