Solae raising prices 8%

by Eric Schroeder
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ST. LOUIS — Solae said it will raise prices on its soy ingredients by 8% across the globe, effective immediately, or as contracts allow. Solae said its decision to raise prices reflects the continued trend of increasing global inflation and agricultural cost increases as well as extraordinary global demand for soybeans. “Given the 2012 outlook with fluctuating economic trends and increased demand for commodities, this new pricing is critical to our business and our ability to serve our customers,” said Torkel Rhenman, chief executive officer of Solae. “We are determined to continue delivering the innovative, high-quality soy ingredients that our customers rely on.”

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