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UK's Tate & Lyle to hike prices of some products in North America

Published 06/09/2019, 14:45
Updated 06/09/2019, 14:51
© Reuters.  UK's Tate & Lyle to hike prices of some products in North America

(Reuters) - British food ingredients maker Tate & Lyle Plc (L:TATE) said https://www.tateandlyle.com/news/tate-lyle-announces-price-increases-its-food-beverage-solutions-products-north-america on Friday it would increase price at its food and beverage unit in North America from Oct.1, blaming a rise in production costs.

The company, which traces its roots back to a sugar business in 1859, said it would raise the prices of its speciality food starches, fibres, speciality and high intensity sweeteners among others by 12%.

Tate & Lyle in May forecast broadly flat to low-single digit growth in earnings per share for 2020, with progress limited by lower profit from sucralose products and market challenges in primary products consisting of high-volume sweeteners, industrial starches and fermentation products.

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