CSM clawed back some pre-tax profit losses from higher raw material costs and falling demand in its second financial quarter, but pre-tax profits remain down for the half year (H1).
A continued rise in raw material costs will hit lower first half earnings, says bakery ingredients giant CSM in a trading update, with price hikes not enough to offset the surge.
Danisco has stopped selling the sweetener alitame and has withdrawn
its Food and Drug Administration (FDA) petition for it to be used
in food in America, citing uneconomic production.
Danish enzyme firm Novozymes has announced that it is to increase
prices for a line of its brewing enzymes in the US, as the firm
struggles to retain profitability under growing market pressures.
FMC Biopolymer will again increase prices for its food ingredients
on the back of high energy and raw material costs, and the company
says it expects prices to continue rising.
DSM has said that it will not pass on rising costs to end markets
straight away, despite an otherwise excellent Q2 blighted across
the board by yet more increases in raw material and energy prices
stemming from political tensions.
Long term investments in added-value products contributed to
British starch group Tate & Lyle's end of year results with
strong US performance offsetting squeezed margins due to surging
raw material prices. A lift in demand...
Higher raw material prices, a tighter competitive market place and
uncertainty over HFCS contracts in the US sees UK carbohydrates
ingredients company Tate & Lyle announcing a disappointing
trading update for the third quarter.