Highest One-Time Japanese Canned Tuna Price Increase In 9 Years ff
10 July 2007
Japan
Japanese manufacturers of canned tuna and bonito are set to increase prices of their products by 10-20 yen, to offset rising ingredient costs and a weak yen. On Friday, Hagoromo Foods announced a 10-yen increase in the price of its 80g canned bonito to 160 yen ($1.29), for shipments from 1 August. Meanwhile, Hotei Foods raised its rice by 20 yen to 160 yen.
The hikes are the first such price rises in nine years. Last year, Hagoromo and other manufacturers raised wholesale prices on four-can packs and other products.
But this rise is in their suggested retail prices. Prices of frozen bonito have jumped about 60% in the last year, increasing the per-can cost by nearly 8 yen.
