Warning of price risesThis article was originally published in Foodnews
FOOD giant Unilever is to become the next multinational to raise its prices this year as it attempts to offset soaring commodity costs. Chief executive Patrick Cescau said at a shareholders' meeting last week: "We will continue to save, to be efficient, and will increase prices as necessary." In the last quarter, Unilever raised prices by 4.8%. Despite growth in the first quarter this year, with a turnover of €9.6 billion and net income of €1.4 billion, Cescau warned that 2008 would be a more challenging business environment.