Nisshin Oillio raising prices Oct. 1

JIJI

Nisshin Oillio Group Ltd. said Wednesday it will raise the prices of its cooking oil products Oct. 1.

The company blamed a surge in prices of soybeans used to make cooking oil due to the severe draught in the United States.

The price increase will be the third by the leading cooking oil maker this year, after hikes in April and July.

The prices of cooking oil products for households will be raised by at least ¥10 per 1 kg, while those of commercial-use cooking oil will go up ¥200 or more per 16.5 kg, it said.

Rival J-Oil Mills Inc. is also considering raising the prices of its products.