Tate & Lyle shares rose today (6 January) as the company played down reports that it has failed to push through adequate price rises in its latest round of supply negotiations.
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According to reports, the UK food ingredients maker has fixed 2009 supply contracts 1-2 cents above last year’s levels, but failed to achieve the 3.5-cent increase targeted by the company.
However, a spokesperson for Tate & Lyle dismissed these concerns as “pure speculation”.
Shares in Tate & Lyle had risen 5.7% to GBP4.08 by 13:32 pm (GMT).
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