Tokyo-based snack maker, Yaokin Co., has announced that the price of Umaibo, stick-shaped puffed corn snacks, will be increased from ¥12 to ¥15 starting in October. The company cited the rising cost of corn and vegetable oil, which are the main raw ingredients for Umaibo, as the reason for the price hike. This marks only the second time in over 40 years that the price of Umaibo has been raised. Previously, it was increased from ¥10 to ¥12 in spring 2022.
In addition to higher ingredient costs, Yaokin also mentioned that they are facing increasing labor and delivery expenses. Launched in 1979, Umaibo has been a popular snack option due to its affordable price point of ¥10 per stick for several decades.
However, with rising production costs and inflationary pressures impacting various industries globally, Yaokin has made this decision to adjust their pricing strategy accordingly. The company’s move reflects a broader trend seen across many sectors where businesses are grappling with higher input costs and seeking ways to maintain profitability.
Umaibo enthusiasts may need to prepare themselves for this upcoming change as they will soon have to pay an extra ¥3 per stick. While some loyal customers may be disappointed by this news, it remains uncertain how this increase will impact overall sales or consumer behavior.
As consumers continue to navigate through an evolving economic landscape characterized by fluctuating prices and supply chain challenges caused by various factors such as climate change and global events like pandemics or trade disputes – it is essential for companies like Yaokin Co. to adapt their strategies accordingly while ensuring customer satisfaction remains a priority.
