Meiji, a major food manufacturer, will raise the price of its main products such as milk and yogurt from November this year in response to the rising cost of raw milk, which is a raw material, due to soaring feed prices.
A total of 115 products, including mainstay milk and yogurt, will be raised in price. Of these, the shipping price of milk and milk drinks will be raised from 2.8% to 5.5%, and the suggested retail price of yogurt will be raised from 3.6% to 6.3%. We will raise the price from the shipment on November 1st.
This is the first price increase in about three and a half years since April 2019.
As for the reason, the company has agreed to raise transaction prices with nine producer groups nationwide, which are entrusted with sales by dairy farmers, in response to rising raw milk production costs due to soaring feed prices. I'm assuming it's because
In addition, as the prices of raw materials such as oils and fats are soaring, the suggested retail price of protein drinks will be 2% to 6.5% from shipments on November 1st, and the suggested retail price of powdered milk for infants will be from orders received on November 1st. It means that the price will be raised from 7.4% to 7.5%.
The company commented, ``We have taken various measures, but it has become difficult to continue sales at the current price.We will continue to take measures to absorb the cost increase.'' .
Major dairy manufacturers Morinaga Milk Industry and Megmilk Snow Brand have also agreed to raise the transaction price of raw milk with producer groups in various places, and are considering whether to raise the price.