Whether it is coffee, milk, juice or seasoning, prepare to pay more for some Nestle items.
On Wednesday, Nestle, the world’s largest goods group confirmed an increase in some of its brands. But at a time when other basic commodities are on the rise, the company assured that the adjustments will have little impact on consumers.
Prior to releasing an official statement, local consumers got wind of the proposed bite into their pockets as a document outlining the proposed mark up of items including Carnation Evaporated Milk, Maggi Season Up, Nescafe and Nesquick began circulating on social media.
Head of corporate communications Siti Jones-Gordon confirmed Nestle will increase prices this month on some local and imported products but did not identify which ones.
“The price increase percentages will average in single digits.”
Nestle blamed the price hike on global increases in transport, supply chain, raw and packaging materials which include the well-known surge on commodities.
In an interview with Guardian Media, President of the Supermarket Association, Rajiv Diptee warned consumers to brace for more increases as a result of disruptions to the global supply chain.
“We expect to see some of this continuing throughout 2022 as a number of challenges have filtered through 2021 into 2022 including the elephant in the room, the vaccination rate and how these co-relate to transport and the container crisis where freight and insurances are concerned. It is a supply and demand issue, right, and we’ve seen demand go up supply not being able to keep up with that.”
The food processing conglomerate is the latest company to raise prices on food items. Last week National Flour Mills announced an increase in wholesale flour prices as a result of increases in global wheat prices and other variables.
The move triggered other companies to adjust the price of their products, including Nutrimix as well.
Kiss Baking Company also announced a hike in its bread prices. On Monday Carib Brewery also revealed that consumers will have to pay an additional dollar for selected bottled and canned beverages including Carib, Carib Pilsner, Carib Blue, Stag and Heineken.