April 10, 2008

UK company raises pork price to offset input costs
 

UK sausage producer Cranswick plc has announced that it would pass on rising costs to its customers.

Cranswick has decided to pass the higher production costs to customers by increasing fresh pork prices.

Martin Davey, chairman of Cranswick said the company is currently in discussions with customers to pass on costs for other products such as ham, cooked meat, bacon, and sausages.

The company's shares closed up nearly 6 percent after the announcement.

Cranswick was formed by farmers in the early 1970s to produce pig feed but its activities have since expanded into the food and pet sectors, with the food division accounting for 90 percent of overall sales. Its businesses focus predominantly on the supply of fresh and processed food to the UK food retail, food manufacturing and food service sectors.