COST OF LIVING/Maker of popular tissue brands announces price hikes

08/19/2022 06:45 PM
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CNA photo Aug. 19, 2022
CNA photo Aug. 19, 2022

Taipei, Aug. 19 (CNA) The maker of popular tissue brands Andante and Dandelion on Friday announced plans for price increases of 5-20 percent to be implemented later this year due to soaring international raw material costs.

Chang Ching-biao (張清標), president of Taiwan's third-largest paper manufacturer Cheng Loong Corp., said on an earnings call that skyrocketing pulp and coal costs had prompted the firm to open talks with distributors over price increases.

Cheng Loong's rival Yuen Foong Yu Consumer Products Co., which owns tissue brands May Flower and Tender, said it was keeping close tabs on changing shipping costs and raw material prices and would adjust its procurement plans accordingly, when asked if it was also planning to raise prices.

Yuen Foong Yu added that it was taking proactive measures to keep its prices insulated from the negative economic fallout of the COVID-19 pandemic.

(By Lai Yen-hsi and Sean Lin)

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