Fourth time price increase since October 2023, alternative oils such as blend oil, rice oil will get more attention.
Nisshin OilliO Group has announced a price increase for a total of 30 olive oil products, both for household and professional use, starting with the May delivery. The sales price will be raised by 23% to 80% due to continued reduced production in Europe caused by heatwaves and droughts, leading to a global shortage of stock.
For household products, 22 items are targeted for the price increase. Almost all products, except for some seasoning oils, will see a price increase ranging from 23% to 64%. “BOSCO Extra Virgin Olive Oil (456g)” will have a 50% price increase, and “Nisshin Delicately Fragrant Extra Virgin Olive Oil (350g)” will see a 62% increase. For professional use, 8 products will have their selling prices raised by 60% to 80%.
This price increase for olive oil products has been ongoing since 2022, and this announcement marks the fourth time since October 2023.
Source: Nikkei MJ March 4, 2024
Related Articles
LAWSON to release plant-based food made entirely from plants on May 27th
Starting May 27, LAWSON (Tokyo) has launched the "NL Plant-Based Grissini Tomato Basil Flavor" (168 yen including tax), which is made using only plant-based ingredients, as part of its Natural LAWSON confectionery series at LAWSON stores nationwide (14,026 stores as...
Challenging Cocoa Inflation – Fuji Oil’s Plant-Based Alternative Shows Promise
Rethinking Chocolate for the Future – Fuji Oil Unveils Cacao-Free Innovation As cocoa prices continue to soar, a new approach from Japan’s Fuji Oil Co., Ltd. (Headquarters: Izumisano, Osaka; President and CEO: Tatsuji Omori) is gaining attention across the food...
Morinaga Milk Industry Clinico launches “Sunkist Onaka Ukiuki Satisfying Fruit” series to support intestinal environment
On June 11th, Morinaga Milk Industry Clinico (Tokyo) will release three flavors of the "Sunkist Onna Kiuki Satisfying Fruit" series of nutritional supplement drinks that make it easy to get dietary fiber as functional foods - "Apple," "Tangerine," and "Muscat" - as...