US: Pasta prices may rise, warns US firm
American Italian Pasta Co. has warned it may have to raise prices on its products amid a depleted global supply of durum wheat.
The US pasta maker yesterday (29 October) gave an update on the market for durum wheat, a key commodity for its business.
The company said global stocks of durum wheat are at their lowest in "recent history" due to pressure on the US and Canada to supply Europe and North Africa.
"Durum production in North American growing regions has not been sufficient to offset this increasing demand," the company said. "On a global basis, inventory of durum wheat is at its lowest level in recent history. The result has been escalating durum costs for the industry at levels not previously experienced."
American Italian Pasta said costs would rise due to the contraction in supply and that it would seek to raise prices to cover the rising bill.
Companies: American Italian Pasta
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