US packaged food group Kellogg said it will raise the retail price of its popular snack and cracker brands as of 30 December this year.
Go deeper with GlobalData
Consumers buying Keebler cookies and crackers and snack brands such as the NutriGrain cereal bars will have to pay 3-4% more for the privilege, a spokeswoman revealed.
Last week rival food group Kraft Foods admitted it would raise the price of most of its Nabisco cookies and crackers by some 3%. Higher ingredient prices have been cited as the motivation for the hikes by both groups. Prices for commodities such as wheat, cocoa, corn and soyoil have risen sharply, with drought conditions in the Midwest exacerbating wheat price rises, commented Dow Jones.
Kellogg also has to contend with higher employee benefit costs, the spokeswoman added. She stated that the group would not, at this time, be raising the price of its cereal brands.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
