Higher Material Costs And Weaker Yen Prompt Food Makers To Raise Prices Further
Food manufacturers in Japan are further increasing their prices in November in response to rising material costs and a weaker yen.
Major dairy manufacturers marked up the prices of milk, yogurt and other items by between two and 12.5 percent on Tuesday. This came after dairy manufacturers and milk producers agreed to increase the cost of raw milk, due to surging prices for feed and energy.
Some condiments have also become more expensive. On Tuesday Ebara Foods Industry raised the prices of its barbecue sauces. This is the first time in 32 years that the prices of such items have been marked up.
Some restaurant chains are planning to increase the prices of their products for the second time this year.
Duskin is the operator of the Mister Donut chain. It will raise the prices of almost all its donuts and pies by up to 14 cents later this month.
Major manufacturers of frozen food, snack food, baby food and special food products are also planning to raise their prices in November.