Prices for over 1,000 food items in Japan set to rise in June

More than 1,000 food products across Japan will carry higher retail prices beginning in June, according to manufacturer notifications compiled by Teikoku Databank and released in late April. The data cover 1,047 stock-keeping units that will rise by an average of 11 percent, following submissions to major retailers through mid-April. Seasonings represent the largest share of affected items, followed by processed foods such as retort pouches and instant meals.

Category Breakdown

Seasoning products account for 312 items, or roughly 30 percent of the total. Manufacturers including Kikkoman and Yamasa have notified retailers of increases ranging from 8 to 15 percent on soy sauce, mirin, and dashi stock. Processed foods follow with 287 items, led by retort curry and pasta sauce lines from House Foods and Ajinomoto. Dairy-based items, confectionery, and beverages make up the remaining categories. Teikoku Databank analyst Hiroyuki Ohara stated that the concentration in seasonings reflects sustained pressure from imported raw materials priced in U.S. dollars and elevated domestic logistics costs.

Economic and Supply Background

Japan imports approximately 60 percent of its caloric intake on a calorie basis, according to the Ministry of Agriculture, Forestry and Fisheries. The yen traded near 155 to the dollar in April, compared with 110 in early 2022. Crude oil and natural gas prices, although lower than 2022 peaks, remain above pre-pandemic levels and directly affect domestic fertilizer, packaging, and transport expenses. The Japan Food Industry Association noted in its March policy brief that wheat, edible oil, and packaging resin contracts renewed in the first quarter.

By Kenji Tanaka, Staff Writer