Megmilk Snow Brand to Raise Product Prices in April

Economy

Tokyo, Feb. 6 (Jiji Press)--Japanese food maker Megmilk Snow Brand Co. <2270> said Wednesday it will raise the prices of milk, yogurt and related products for households from shipments on April 1.

The move reflects rising costs for packaging materials and logistics as well as a planned increase in prices for raw milk purchased from dairy farmers in April.

The price increase by the company will affect 79 items, including milk-based beverages and desserts.

Their suggested retail prices will go up by some 2-6 pct from the current levels. Milk prices will be raised by some 4 pct. The price of a 400-gram pack of yogurt will rise by around 10 yen.

The firm will raise prices for its mainstay products for the first time in four years. Domestic rivals Meiji Co., a unit of Meiji Holdings Co. <2269>, and Morinaga Milk Industry Co. <2264> have already announced their plans for price increases.

[Copyright The Jiji Press, Ltd.]

Jiji Press