Nisshin Foods Inc., the nation's biggest macaroni maker, will raise pasta prices to counter the higher cost of wheat.
Osaka-based Nissin Seifun Group Inc., which owns Nisshin Foods, will raise wholesale prices by as much as 40 percent, according to the company.
The increase, effective March 1, comes as Japan, Asia's biggest wheat importer, will raise the price of the grain it sells to domestic flour millers by as much as 30 percent in April. Wheat prices on the Chicago Board of Trade nearly doubled last year to reach a record level.
Increasing commodities costs have already prompted other food companies to boost prices. Nisshin Seifun, which makes Ma Ma macaroni and Medallion brand pasta, raised recommended retail prices for pasta and flour products by 15 percent to 20 percent Thursday, after an increase of as much as 13 percent in November. Its Nisshin Flour Milling Inc. unit said on Dec. 28 that it would raise flour prices in April for the first time since 1983.
Yamazaki Baking Co., the country's largest bread and pastry maker, increased bread prices in October for the first time in 17 years.
Wheat futures for March delivery rose 14 cents, or 1.5 percent, to close at $9.405 a bushel on the Chicago Board of Trade. The price rose by the 30-cent exchange limit to $9.565 a bushel at the start of regular trading and stayed limit-up for almost 90 minutes before retreating.