July 5, 2007

Japan's Nippon Ham to increase product prices by ten percent

Nippon Meat Packers Inc. or Nippon Ham, said Wednesday (July 4) that it will raise prices on about 500 retail products, such as ham, sausages and frozen pizza, by an average of 10 percent effective September 1.

This will mark its second straight year of price increases, following the roughly 10 percent effective hike implemented in June 2006. The company plans to increase shipment prices or reduce net weight.

Nippon Ham says its raw materials costs have increased because of pork prices rising about 10 percent on the year this fiscal year. Details, such as specific hikes, will be fleshed out soon.

Itoham Foods Inc. and Marudai Food Co. are among the others said to also be considering raising prices.