The food giant announces rising prices. It will also affect ordinary foods, how much will product prices go up? – PRAVDA.sk

The company is facing an increase in many of the basic commodities it uses to manufacture its products.

Rising raw material prices and other costs, together with the instability caused by the COVID-19 pandemic, are forcing Nestlé to increase the prices of its products. The increase will come in the coming months across the main categories. “The current economic situation is forcing us to increase the prices of selected product categories by 4 to 13%,” Nestlé Czech and Slovak spokesman Robert Kičina informed on Friday.

According to the company, it is only able to partially compensate for the increased costs of procuring strategic raw materials, logistics, energy and packaging materials from growth and internal reserves. Adjusted prices will ensure the stability of production and deliveries to the counters of Slovak stores while maintaining the high quality of products.

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The company is facing an increase in many of the basic commodities it uses to manufacture its products. The rise in these prices was most affected by the coffee segment, with the price of Arabica and Robusta rising by tens of percent due to the drought and frosts in Brazil and higher transport costs. Climate change has also led to increased demand and a consequent rise in the prices of wheat and maize, which are the main constituents of cereals in particular. “The price of oils used in the production of a wide range of foods has also risen significantly. Lack of sugar affected the production of chocolate and confectionery. Worse availability and rising prices of packaging materials affected products in all categories, “said Kičina.

Nestlé is the largest producer of food and beverages in the world. It operates in 189 countries and employs 328,000 people. The company was founded more than 150 years ago in Vevey, Switzerland, where it is still based. In Slovakia, the Carpathia Prievidza plant produces a wide range of culinary products under the Maggi and Carpathia brands.