Overview
- CJ Cheiljedang will cut flour prices by an additional 5% on average for both B2B and retail buyers, adding to earlier reductions that bring some categories close to a 10% drop this year.
- The Fair Trade Commission’s chairman, Ju Biung-ghi, urged flour price reductions of at least around 10% in light of suspected industry collusion.
- Paris Baguette will lower recommended prices on 11 items starting March 13 and introduce a 1,000‑won value croissant, with staple breads trimmed by 100 won and selected cakes also reduced.
- CJ Foodville’s Tous les Jours will reduce prices on 17 bread and cake products by an average of 8.2%, with retail cuts taking effect March 12 and ranging from 100 to 1,100 won, plus one character cake down 10,000 won.
- Prosecutors have indicted several flour and sugar producers on collusion charges, and industry officials report wholesale declines of about 16.5% for sugar and around 5% for flour that are now flowing through to retail pricing.