TAIPEI (Taiwan News) — HeySong Corporation, a Taiwanese beverage company, has announced a price hike of up to 25% next month, citing inflationary pressures.
On Friday (Feb. 16), HeySong attributed the decision to the escalating costs of raw materials, packaging, transportation, and personnel, reported UDN. Various products, including FIN, C&C, and HeySong Sarsaparilla Drink, will see prices rise by over 10%, with the steepest increase of 25% affecting 330 ml cans of the latter two.
HeySong Chair Chang Pin-tang (張斌堂) noted a substantial increase in raw material prices in 2023 compared to 2022, with sugar prices alone surging by 14%. He anticipates an additional 20% spike in sugar prices this year due to the appreciation of the U.S. dollar and the Red Sea crisis.
The price adjustments are set to take effect on March 1, primarily targeting products containing sugar or milk. The company said that certain items have not undergone price adjustments for 10 to 20 years.
Among the specific changes, the 975 ml bottles of the FIN sports drink will increase from NT$35 to NT$39, while the 580 ml bottles of the FIN series will rise from NT$25 to NT$29. The 500 ml bottle of the C&C sparking drink series will see a hike from NT$29 to NT$35. The most significant increase will be observed in the 330 ml cans of C&C and HeySong Sarsaparilla Drink, rising from NT$20 to NT$25, reflecting a 25% surge.
HeySong highlighted that the FIN and C&C series, with market tenures exceeding 20 and 10 years, respectively, have never undergone a price adjustment before.
