Solae, the world leader in soy ingredients, will raise prices by 8 percent across the globe, effective immediately, or as contracts allow. Solae's decision to make price adjustments is based on the continued trend of increasing global inflation and agricultural cost increases as well as extraordinary global demand for soybean, leading to crop scarcity that impact underlying soy prices.
"Given the 2012 outlook with fluctuating economic trends and increased demand for commodities, this new pricing is critical to our business and our ability to serve our customers," said Torkel Rhenman, chief executive officer—Solae. "We are determined to continue delivering the innovative, high-quality soy ingredients that our customers rely on."
Solae, LLC is the world leader in developing innovative soy-based technologies and ingredients for food, meat and nutritional products. Solae provides solutions that deliver a unique combination of functional, nutritional and economical benefits to our customers. Solae's soy ingredients are enjoyed by consumers around the world in products such as baked goods, beverages, nutrition bars, meats, vegetarian meals and much more. Solae is a recipient of 2011 Ethisphere's Ethics Inside Certification and was recognized as one of the "World's Most Ethical Companies" in 2010 and 2011. For more information, visit www.Solae.com.