In an interview, the leader of Coca Cola Hungary stated that there will be further price increases
Managing Director of Coca-Cola HBC Magyarország Kft., László Békefi the For index stated in an interview that due to the economic challenges affecting the company, the price increase of their products “unfortunately cannot be avoided”.
The prices of sugar, concentrate, carbonic acid and coffee have also increased, so the value of all the raw materials required for the production of our products has increased. The purchase price of raw materials used for packaging has also increased, and as everyone has experienced, the energy used and transportation costs have also increased due to the increase in fuel prices.
– explained the executive, adding that the company’s overhead costs have doubled since last year. As he said, they are preparing for the year with several different scenarios, but at the end of their contracts, they try to “optimize depending on the price and predictability”.
In response to the question of how much the price had to be raised and exactly how the increase in price should be renewed, Békefi said that based on the market data, it appears that
Coffee was hit the hardest by rising prices. The world market price of coffee has doubled in one year, so the purchase price has also jumped by 30-70%, depending on the segment, “and part of the cost increase is also reflected in consumer prices”.
Coca Cola achieved HUF 126.7 billion in net sales in 2021, increasing its turnover and market value last year.
However, the change is clearly visible, the reorganization has begun and is currently ongoing. In the consumer basket, more often than before, own-brand, larger-packaged products are included, and consumers are increasingly thinking about what they want and can spend on.
said the director.