Two major cooking oil companies have announced that they will raise the price of cooking oil from August due to soaring raw material prices.
One company has already announced price increases from August, and all three major companies will raise prices for the third time.
According to the announcement, the "Nissin Oillio Group" will raise the price of 23 household cooking oils such as "Nissin Canola Oil" by more than 50 yen per kilogram from the delivery on August 1.
Showa Sangyo will also raise the price of eight household items such as "canola oil" by 50 yen or more per kilogram from the delivery on August 2.
Regarding cooking oil, the same major manufacturer "J-Oil Mills" has already announced a price increase from August, and the three companies will raise the price for commercial and processing use at the same level as for household use.
The price increase of cooking oil is scheduled to take place next month following spring, and the price increase in August will be the third time.
According to each company, the purchase price of soybeans and rapeseed, which are the raw materials, is soaring due to growing demand in China and unseasonable weather in the production areas.
As the price of cooking oil rises, the price of mayonnaise also rises, and the impact of the rise in raw material prices is affecting familiar food products.