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UK's Tate & Lyle To Hike Prices Of Some Products In N.America

British food ingredients maker Tate & Lyle Plc said on Friday it would increase price at its food and beverage unit in North America from 1 October, blaming a rise in production costs.

The company, which traces its roots back to a sugar business in 1859, said it would raise the prices of its specialty food starches, fibres, specialty and high intensity sweeteners among others by 12%.

Tate & Lyle in May forecast broadly flat to low-single digit growth in earnings per share for 2020, with progress limited by lower profit from sucralose products and market challenges in primary products consisting of high-volume sweeteners, industrial starches and fermentation products.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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