Food Industry Monthly: June 2026

Research evidence excerpt

Food Industry Monthly: June 2026

FoundationM

Key Topics in the Food Industry – June 2026

•Discussion on a consumption tax cut for food intensified at the House of Representatives Budget Committee.

•On 16 June, the Japan Fair Trade Commission (JFTC) conducted on-site inspections of six food manufacturers over

alleged cartel activity involving recommended retail prices for ice cream.

•The Japan Meteorological Agency announced the onset of El Niño, prompting countries across Asia to prepare for potential

food stockpiling, power shortages, and water shortages.

•Oil prices declined as tensions in the Middle East eased, but some food commodity prices remained elevated amid

concerns over El Niño. Prices of palm oil, cocoa, coffee, and fishmeal continued to trend higher.

•In the US, beef prices moved higher again, partly due to the New World screwworm issue. Meanwhile, Australia's EYCI

(Eastern Young Cattle Indicator), a benchmark for cattle procurement costs, also rose sharply.

•Domestic chicken and egg prices remained below year-earlier levels.

•Among fermentation feedstocks for MSG, tapioca prices increased while raw sugar prices declined. Ammonia prices, a key

fermentation input, softened.

•Germany's sweet whey powder price reached €1,943/t in June, up 71% YoY.

•Yakult's May dairy product sales volume declined 9% YoY, versus the company's full-year guidance of a 1% decline,

reflecting continued weakness in the Yakult 1000 series.

•According to Nikkan Keizai, May yogurt sales increased 8% YoY for the overall market, 2% for Meiji, 12% for Morinaga

Milk, and 5% for Megmilk Snow Brand. Morinaga Milk maintained double-digit growth following April.