St. Louis, Oct. 29 - Solae, LLC, today announced that global prices for most of its soy protein ingredients will increase by 12 to 24 percent, depending on the product line. The increase takes effect November 1, subject to contracts.
Solae CEO and Chairman Craig Binetti said, "Market conditions are putting pressure on much of the food chain. Fortunately, we're in a great position to help our customers through these challenges by continuing to provide innovative, economical solutions."
For several decades, Solae has invested in health benefits research and new application and product technologies, helping customers profitably grow their businesses. Solae is delivering on its promise to advance global nutrition through food ingredient innovation by enabling customers to offer affordable, great tasting and nutritious food products to consumers around the world.
Recent Solae innovations, such as SoleCina(TM), SUPRO(R) 9000 and SUPRO(R) 9040, build on the company's historic leadership of offering food and nutrition companies more options to manage costs caused by rapidly escalating agricultural and energy prices. With animal protein prices at record levels, Solae's customers can count on its complete line of high-quality soy proteins and technical expertise to provide what many ingredient companies cannot: more economical protein solutions to offset rising costs.
"Food manufacturers around the world are struggling to deal with rising costs, and many are finding it difficult to raise prices to consumers," Binetti said. "Solae's unique ability to replace animal proteins provides our customers with the opportunity for significant savings in their product formulations."
With offices, research facilities and manufacturing centers around the world, Solae has the essential resources to help customers develop and market healthy, innovative food and beverage products. Solae has more than 30 years of experience in applying innovative technology to unique processing situations.