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Roughly 90 per cent of all wheat consumed in Japan is imported by the Japanese government and sold to the millers.
The government raised wheat prices for the first time in 24 years in April 2007, lifting them twice more after that.
Each time, the millers passed on the higher costs by raising the price of flour.
The government is certain to raise prices for wheat a fourth time this coming October, Nippon Flour president Wataru Aosaki told The Nikkei, leaving his company with no choice but to increase the price of flour.
Aosaki did not state the scope of the price hike but it will likely cover the full increase in wheat prices.
With flour prices already up nearly 30 per cent, a further hike will force makers of breads and ramen noodles to raise their prices again.
Nissin Food Products Co. (TSE:2897), who said that another hike will be unavoidable, and other leading ramen makers have bumped up prices once.
Yamazaki Baking Co. (TSE:2212) and other leading bakers have already boosted their prices twice.
(Nikkei)
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