韩元急贬推高食品企业成本

Core Viewpoint - The depreciation of the Korean won is significantly increasing cost pressures for South Korean food companies that heavily rely on imported raw materials [2] Group 1: Currency Impact on Costs - As of November 17, the exchange rate reached 1458.0 KRW per USD, an increase of over 4% compared to the same period last year [2] - The domestic food manufacturing industry's raw material localization rate is only 31.8%, with nearly 70% of key ingredients like palm oil, wheat, soybeans, and raw sugar being imported [2] Group 2: Financial Impact on Major Companies - CJ CheilJedang reported that in the third quarter, the procurement costs for sugar and cooking oil reached 591.8 billion KRW and 587.2 billion KRW, respectively [2] - A 10% increase in the exchange rate would lead to a reduction of 13.0818 billion KRW in after-tax profits for CJ CheilJedang, with a year-on-year decline in operating profit of 25.6% [2] - Lotte Wellfood indicated that a 10% rise in the exchange rate would decrease profits by 35.3 billion KRW [2] Group 3: Industry Concerns - There are concerns that if the high exchange rate persists, there may be a concentrated increase in food prices from the end of this year to early next year [2] - Most raw materials are settled in USD, leading companies to inevitably pass on cost pressures to end prices, which could further burden consumers and affect overall price levels [2]