Morinaga to Raise Prices for 45 Items from April

Economy

Tokyo, Feb. 5 (Jiji Press)--Japanese dairy producer Morinaga Milk Industry Co. <2264> said Tuesday it will raise the prices of 45 items, including milk and yogurt, from shipments on April 1.

The increases reflect planned rises in prices for raw milk purchased from dairy farmers in April, as well as higher costs for packaging materials, labor and logistics.

The product prices will increase by 3.0-8.3 pct. The company's mainstay 1,000-milliliter carton of "Morinaga no Oishii Gyunyu" milk will be go up by some 10 yen from the current level of some 237-248 yen.

Morinaga Milk will conduct such large-scale price hikes for the first time in four years.

The announcement followed a similar move by industry rival Meiji Co. on Monday.

[Copyright The Jiji Press, Ltd.]

Jiji Press