Unilever, the company behind well-known supermarket brands such as Andrélon, Cif and Calvé, plans to further increase the prices of its products in the second half of this year. According to the group, this is necessary because raw material prices have skyrocketed due to the war in Ukraine.
Unilever’s costs rose by 2.1 billion euros in the first half of the year due to more expensive raw materials. In the second half of the year, the company expects to lose even more, namely 2.7 billion euros. The company wants to pass these costs on in the product prices in the coming months and years.
Major brands such as Unilever have a market share of approximately 20% in Dutch supermarkets. Earlier, the company warned that prices would rise due to rising commodity prices. Six months ago, the group still expected price increases to stabilize by the end of 2022.
Inflation
The latest inflation figures from Statistics Netherlands show that the prices of food and beverages are rising rapidly. In March, food was 6.2% more expensive than a year ago.
Unilever has increased its prices by more than 8%. Turnover rose by almost 12% to 13.8 billion euros. Unilever will report this below the line in half-year figures.
Source: NOS
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