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.
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