May 3, 2016

Brazil’s BRF plans to raise prices to counter high corn costs

Brazilian food processor BRF SA plans to increase prices by about 7 percent in May to help it counter rising costs and a generally challenging market that is expected to continue through midyear, Chief Executive Officer Pedro Faria said on Friday.

Faria told analysts on a conference call that the company’s 10 percent price increase at the beginning of the year was not enough to offset cost pressures from the higher local price of corn, the main component of poultry feed.

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