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and own a company "Nestle"branches of food production are very popular in the market, such as chocolate "kit Kat"and ice cream "هاغن داز"and a cat feed product known as"Felix".
The CEO of the company, Mark Schneider, explained that inflation continues to rise significantly, and this matter requires a change in prices and other measures taken throughout the year.
and prepare "Nestle" Among the latest major companies to warn of the consequences of rising prices raw materialsin addition to the jump in the prices of fuel, labor and transportation costs.
There is talk of a new price hike amid fears of a shortage of grain and oil supplies that were coming from RussiaAs well as the decline in petrochemicals imported from the same country.
Even before the start of Russian military operations in neighboring Ukraine on February 24, inflation was heightened by the supply chain crisis caused by the lockdowns imposed to contain the Corona epidemic.
Schneider stated that the company raised prices in a manner he described as the official in order to contain the cost of inflation, expecting the corporation to achieve its set goals regarding sales and profits for the year, amid stability in demand.
Sales of candy bars and chocolates, including "kit Kat" By more than 10 percent, during the first months of this year.
According to economist Matt Pritzman, "Nestle" Prices are raised in order to contain the high cost of production, adding that the company benefited from the take-off that followed the exit from Corona restrictions last year.
He added that "Nestle" It waits whether consumer behavior will change in the future as a result of the crisis, such as people becoming more reluctant to international brands, and more craving for cheaper products in the market.
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Nestle owns food production branches that are very popular in the market, such as chocolate Kit Kat, Haagen-Dazs ice cream and Felix cat food.
The CEO of the company, Mark Schneider, explained that inflation continues to rise significantly, and this matter requires a change in prices and other measures taken throughout the year.
Nestlé is among the latest major companies to warn of the consequences of rising prices raw materialsin addition to the jump in the prices of fuel, labor and transportation costs.
There is talk of a new price hike amid fears of a shortage of grain and oil supplies that were coming from RussiaAs well as the decline in petrochemicals imported from the same country.
Even before the start of Russian military operations in neighboring Ukraine on February 24, inflation was heightened by the supply chain crisis caused by the lockdowns imposed to contain the Corona epidemic.
Schneider stated that the company raised prices in a manner he described as the official in order to contain the cost of inflation, expecting the corporation to achieve its set goals regarding sales and profits for the year, amid stability in demand.
Sales of candy and chocolate bars, including “Kit Kat”, rose by more than 10 percent during the first months of this year.
Economist Matt Pritzman believes that “Nestle” is raising prices in order to contain the high cost of production, adding that the company has benefited from the take-off that followed the exit from Corona restrictions last year.
He added that “Nestlé” is awaiting whether consumers’ behavior will change in the future as a result of the crisis, such as people becoming more reluctant to international brands, and more appetite for cheaper products in the market.