Date of Issue: January 2022 Issue  Category: Reports

Ryoyu to Raise Prices of Bread Products and Pastry Products

Ryoyu Co. Ltd., a bread manufacturer, headquartered in Onojo City, Fukuoka Prefecture and headed by President Shunsaku Kitamura, will raise the prices of bread products by an average of 9.7%, and pastry products by an average of 6.7%.

The company explained the reason for the price hike, "the government's selling price of imported wheat has been raised by 5.5% from April this year, and by 19% from October, which has resulted in a drastic increase in the price of wheat flour, which is the main ingredient in bread products. In addition, the prices of oils and fats have been raised by 12%, and sugars by 8%, due to soaring international prices of grains caused by unseasonable weather in the main producing areas. In addition, the prices of packaging materials have soared, and energy costs such as electricity, gas, and light oil have also risen, while distribution costs and labor costs have also increased significantly. In order to maintain the product prices, we have been making thorough efforts to reduce the costs, but the situation has become too severe to be absorbed by our corporate efforts."