13-01-2014 12:44 PM | South Africa

Food giants warn of higher prices

The spectre of food price increases looms ever larger, with Tiger Brands declaring it will soon be compelled to pass on higher costs to consumers.

The food producer, which owns popular brands such as Ace mealie meal, said on Friday that while it would continuously look for ways to reduce and manage costs to the consumer, it would not be able to absorb all the increased costs of white maize. Some were likely to be passed on to the consumer.

Corporate affairs group executive Alex Mathole said the company was not sure how long it would hold out before it passed on the costs. “Should prices increase, our customers will then determine their appropriate retail price to consumers,” Mathole said.
Full Story : Independent Online