Galam Group has announced that it will increase price for its crystalline fructose, fruitose®, when renewing new contracts for 2011. The increase in price is driven by sustained increases in sugar, fuel, and freight costs. Moreover, upcoming global approval of Stevia in Europe will increase demand for other natural sweeteners and particularly for fructose. To this extent, we already face an increased demand in the markets that already approved Stevia and this could result in short term in upward pressure on prices, due to the limited capacities.
"We are constantly investing in initiatives to reduce costs, however we continue to face strong increases in raw material, energy and freight costs," says Alon Heyman, Vice President, Marketing at Galam Group. "The price increase will allow us to continue and offer the best sweetening solutions to the market while keeping the same level of technical support."
About Galam Group
Established in 1940, Galam has years of in-depth industry experience in the manufacture of value-added food ingredients by refining nature's raw materials. Galam Group is a leading Fructose, Glucose and wide-range of Native and Modified Starch manufacturer. The company provides most of the Israeli domestic industrial demand for these products, and is one of the largest suppliers of Fructose (branded Fruitose®) for Europe and an important player worldwide. Galam Group has subsidiaries in several fields such as mineral fortification, brain-energizing products, Natural rich soy based fiber and protein ingredient and blending facilities that provide customized solutions for the food and beverage industry. http://www.galamgroup.com.