Solae Soy Protein Prices to Increase

Solae Soy Protein Prices to Increase

ST. LOUISThe Solae Co. increased the price of its soy protein product portfolio by 5 percent to 15 percent; the price increase took effect June 1. According to Solae, the price increase is a result of escalating manufacturing, energy and packaging costs, as well as an increase in the price of raw materials. For several months, Solae has absorbed these costs, said Jim McCarthy, Solaes senior vice president. However, the mounting pressures have made a price increase unavoidable. McCarthy also stated the price increase will allow Solae (www.solaeliving.com) to continue investing in technology, equipment and facilities to help food companies develop good-tasting, health-enhancing soy-based foods and beverages. Solae also increased the price of its soy lecithin products in November 2003.