Japanese Milling Firms To Raise Wheat - Flour Prices
Major Japanese milling companies say they are going to raise their prices of wheat flour for business customers from June.
The decisions come after the worsening conflict in Ukraine prompted the Japanese government to hike the price of imported wheat that it sells to the milling industry.
Nippn and Showa Sangyo say their flour will go up by more than 300 yen, or more than 2 dollars, per 25 kilograms. The new prices will take effect on June 20.
Both companies say their margins of increase will be the second-highest on record for bread flour. They will be the third-highest for weaker flour, a type used to make cakes and noodles.
Imported wheat accounts for much of Japan's domestic consumption.
The government raised its price by more than 17 percent in yen terms this month.
Another major Japanese milling firm, Nisshin Seifun, has already decided on its price hikes.