Suntory Beverage & Food announces it will implement price increases for certain products in Japan beginning Oct. 1, cites continuing rise of procurement costs for raw ingredients

Sample article from our Food & Beverage

June 19, 2023 (press release) –

Suntory Beverage & Food Limited (“the Company”) will implement price revisions for certain products in Japan, effective as of shipments made on and after Sunday, October 1, 2023.

The Company has implemented other price revisions in the recent past against a background of significant increases in the cost of procuring raw ingredients. On the other hand, in order to ensure the stable provision of safe, secure and high-quality products, the Company has taken various approaches across the board to improve productivity, reduce costs, and so forth, while also implementing rationalization at an executive management level.

However, procurement costs for raw ingredients continue to rise due to tight supply of agricultural produce, soaring fuel prices, and other factors, while the outlook with regard to further deterioration in manufacturing costs is expected to remain uncertain going forward. For these reasons, the Company will implement price revisions for certain products, as follows.

Going forward, the Company will continue to put every effort into rationalization in order to achieve further cost reductions while striving to provide our consumers with ever more natural, healthy, convenient and fulfilling drinking experiences through our high-quality products.

* Effective Date Shipments on and after Sunday, October 1, 2023

* Applicable Products Certain products, including large PET bottles

* Price Revision Rate Recommended retail price +6 to +22%

[Category: Household Durables, Food & Beverages, Specialty Retail, Food & Staples Retailing, Cost Cutting, New Offerings]

Source: Suntory Beverage & Food Limited

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