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China’s Soy Sauce King Raises Prices Due to Inflation

Soy sauce produced by Foshan Haitian.
Soy sauce produced by Foshan Haitian.Photographer: VCG/Getty Images
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Foshan Haitian Flavouring & Food Co., China’s largest soy sauce maker by sales, has decided to raise the retail prices of its products due to higher costs.

The company plans to increase the prices of soy sauce, oyster sauce and other products by 3%-7% from Oct. 25, as the costs of raw materials, transport and energy continue to increase, the Shanghai-listed firm said in an exchange filing dated Wednesday, adding that the hike is aimed at making its business more “sustainable.”