June 26, 2008

Japan, breaking decades-old tradition, raises egg prices 

Egg prices in Japan, which have changed little in decades, will soon be raised  producers seek to cover increased feed and other production-related costs, Japan Times reported.

JA Zen-Noh Tamago Co. said Wednesday (June 23, 2008) that it will raise the price of its Shintamago high-quality brand eggs by 12 percent to 30 percent for a package of 10, effective Aug. 1.

This means the supermarket retail price, currently around JPY 300 (US$2.82) per pack, will rise by more than JPY 30 (US$0.28).

The move is likely to prompt other large producers to follow suit.

The major producers plan to shortly enter price negotiations with supermarket chains, and the timing and margin of the price hike may vary among stores, they said.

Japan's egg industry, suffering the effects of high prices of corn and other commodities this year, is expected to lose US$1 billion this year.