J-Oil Mills, a major cooking oil company, has decided to raise the price of cooking oil for both household and commercial use from July due to the effects of soaring raw material prices and the depreciation of the yen.
According to the announcement, J-Oil Mills will raise the price of all household and commercial cooking oil products from the delivery on July 1st.
The price increase has been 60 yen or more per kilogram for products using rapeseed and soybeans as raw materials, and 120 yen or more per kilogram for olive oil and sesame oil products. Is rapeseed oil since February and other products since last month.
Regarding the reason, in addition to the unseasonable weather in the production area, the rise in raw material prices due to supply instability due to the tightening situation in Ukraine, the rise in distribution costs due to the rise in crude oil, and the depreciation of the yen are also affecting the company. He explained that it is difficult to absorb these costs by corporate efforts alone.
Regarding cooking oil, major companies have frequently raised prices last year, but it is expected that the price will continue to rise as the rise in production costs such as raw material prices does not stop.