Kewpie Corp. will raise mayonnaise prices for both corporate and household use by 2 to 9 percent, effective July 1, in light of rising prices for edible oil, a main ingredient.
It will be the first price hike by Japan’s largest mayonnaise maker since August 2008. Kewpie said it will hike the price of its mainstay 500-gram Kewpie Mayonnaise product to ¥382 from ¥357.
Edible oil prices are rising on a surge in oilseed prices and a weakened yen, which increases the costs of imports.
According to Kewpie, edible oil prices in the January-March quarter were about 40 percent higher than in May 2009, when it cut mayonnaise prices by 2 to10 percent. Rising material costs can no longer be offset by streamlining production, a Kewpie official said.