Solae raises soy lecithin prices

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Related tags: Soy products, Soybean, Soy protein, Solae

Solae announced on Friday that it was to up the price of its soy
lecithin products because of rising costs.

The company, an alliance between DuPont and Bunge, said the increase for its soy product portfolio would range between five and 12 percent.

"In general the most expensive products will go up less,"​ Jack Self, head of the lecithin business at Solae, told FoodNavigatorUSA.com.

Solae offers a range of soy products including flour, oil, protein concentrate and isolated soy protein.

It blamed the price hike on the rising cost of energy and a variety of increases in the cost of transportation and packaging.

"We have explored many options to reduce cost and manufacturing efficiencies to avoid passing on any increased costs to our customers,"​ said Self.

"However, ongoing increases in external factors has made a price increase unavoidable."

The price increase will help ensure the company can continue to make the necessary investments in technological advances and customer support to meet the market demand.

Self said Solae was committed to continuous investment in technical innovation and nutritional research to expand the range of the potential benefits of soy lecithin, particularly on memory health.

The price increase is effective as of 1 March 2005.

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