US food processor Birds Eye Foods has announced that it intends to implement price increases on all product categories, including store brands.
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The price increases, which the company said are a result of higher commodity prices, will be effective 28 June 2004 and are expected to be in the range of 5 to 7%.
“Our industry continues to be challenged by increases in agricultural commodity prices,” said Dennis Mullen, chairman, president and chief executive officer of Birds Eye Foods.
“This is evidenced by the soybean and corn markets, as well as the dairy, beef and edible oils markets. Several of our other major commodity markets have also been dramatically escalating. Rising prices of natural gas and crude oil have greatly impacted not only our transportation costs, but many of our energy-intensive packaging components,” Mullen added.
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By GlobalData
