Price revision of processed oil products
— For shipments on and after September 1 —
Kaneka CorporationKaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Minoru Tanaka) will revise the sales prices of processed oil products of Foods & Agris Solutions Vehicle for shipments on and after September 1 as specified below.
July 20, 2021
July 20, 2021
|Shortening products||27 JPY / kilogram and over|
|Margarine products||23 JPY / kilogram and over|
|Fat spread and butter cream products||19 JPY / kilogram and over|
|Whipping cream products||23 JPY / kilogram and over|
|Concentrated milk products||20 JPY / kilogram and over|
|Whipped cream products||15 JPY / kilogram and over|
|Flour paste products||37 JPY / kilogram and over|
|Chocolate products||25 JPY / kilogram and over|
Kaneka revised prices in March of this year. Following that, production in the global markets for grain and edible fat and oil has decreased due to abnormal weather, such as the La Nina phenomenon and labor shortages caused by the COVID-19 pandemic. In addition, due to a steep increase in demand in China and increased use of biofuels and, in part, speculation, prices for raw oil and fat materials are continuing to rise. Further, fuel and packaging and shipping costs are also rising, putting pressure on business revenues.
Kaneka endeavored to improve business revenue through initiatives such as constricting costs. However, having reached the limits of what the company can do, Kaneka has determined that these price revisions are unavoidable for the sake of steady product supply from here on.