Japan to See Price Hikes for Fewer Food Products in May

Tokyo, April 30 (Jiji Press)--Major food makers in Japan plan to raise prices for 70 items in May, an 85.4 pct decrease from a year earlier, Teikoku Databank Ltd., a research firm, said Thursday.

A Teikoku Databank official warned that makers could rush to raise prices for many food products in summer and autumn, citing naphtha supply concerns amid the war in Iran.

In May, prices for 38 snack products, 16 processed foods and 16 beverages will rise. Ezaki Glico Co. will raise the price of its flagship Pocky chocolate snack from about 238 yen per pack to 245 yen. Teikoku Databank's survey covered 195 makers.

Chemical makers have been raising prices for food packaging materials because of soaring naphtha prices. Food makers will face upward pressure on costs on multiple fronts, including transportation and electricity and gas use, in addition to higher naphtha prices, the Teikoku Databank official said.

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