Japan to witness price hikes for 282 food products this month

Prices are set to rise in November for 282 products from 195 major food and beverage companies in Japan, up 102.9% from a year earlier, a private research firm said Thursday.

But November’s figure is substantially lower than October’s 2,924, the current monthly high this year, Teikoku Databank said.

According to the firm, the upcoming price increases can be attributed to higher material costs and will be led by processed food and snacks.

Toyo Suisan, for example, will raise the prices of 55 packaged precooked rice products by 13% to 14%.

In view of ever-rising cocoa bean procurement costs, snack producer Lotte decided to lift the ex-factory prices of 71 products including mainstay Koala no March chocolate biscuits, whose price will go up for the second time this year. Meiji and Kabaya Foods are also going to raise prices on some chocolate products.

Beverages set to undergo price hikes include Otsuka Pharmaceutical’s 500-milliliter Pocari Sweat sports drink and Oronamin C energy drink.

Japan Times