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Hite to hike beer prices by 2.58 percent
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November 28, 2009
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Leading Korean brewer Hite Brewery Co. said yesterday it will raise beer prices by 2.58 percent starting with next week’s shipments because of an increase in the cost of materials.
The price for a 500-milliliter bottle of beer will rise to 1,019.17 won ($0.87) from 993.55 won, while a 355-milliliter can will rise to 1,101.21 won from 1,073.52 won. The company said it is raising prices because of increased packaging costs and the won’s weakness against the U.S. dollar.
“We have adjusted our beer prices because of rising costs, triggered by raw materials price hikes and the won’s depreciation against the dollar,” said an official of the company. Yonhap
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