World's biggest dairy raising prices amid surging inflation
Food and Nature

World’s biggest dairy raising prices amid surging inflation

Fonterra, the biggest dairy company in the world, has just informed its wholesalers that it will be increasing the prices of its dairy products due to record high inflation rates.

According to a report by Stuff , Fonterra brands marketing director Brett Henshaw said that as far back as last year, the company has already informed its customers that it will have no choice but to implement an increase in prices in the first few months of the year.

Last month, Fonterra reported a seven percent drop in profit as it was not able to pass on to wholesalers the additional expenses brought about by global inflation.

Fonterra said the inputs, goods, and services needed to manufacture the products
add to the cost of the dairies themselves, and the global unrest in Ukraine, Shanghai and India is also affecting the supply chain.

 

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