Tokyo, March 31 (Jiji Press)–Major food makers in Japan plan to raise prices for 2,798 items in April, down 33.8 pct from a year earlier, a survey by Teikoku Databank Ltd. showed Tuesday. The Japanese credit research firm warned that food makers “may again rush to raise prices in the second half of the year” because of soaring oil prices amid the conflict in Iran. The survey covered 195 makers. Edible oil makers will raise prices to pass on higher material and transportation costs to consumers. Showa Sangyo Co. will increase prices for six items by more than 15 pct. Nissin Food Products Co. will raise prices for about 170 items. Morinaga & Co. will hike shipment prices for seven items by 6-40 pct, while reducing the contents of three items by 6-12 pct. Suntory Spirits Ltd. will raise prices for 187 items by 2-20 pct. END [Copyright The Jiji Press, Ltd.]
Food Price Increases in Japan to Slow in April
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