October 30, 2007


Solae announces global price increase for soy protein ingredients



Solae, LLC, a manufacturer of soy products, announced global price increases for most of its soy protein ingredients


Prices will increase by 12 to 24 percent, depending on the product line.


The increase would take effect November 1, subject to contracts.


Solae CEO and Chairman Craig Binetti said, market conditions are putting pressure on much of the food chain.


The company said it would continue to help its customers through these challenges by continuing to provide innovative, economical solutions.


The company said recent Solae innovations, such as SoleCina(TM), SUPRO(R) 9000 and SUPRO(R) 9040, offers food and nutrition companies more options to manage costs caused by rapidly escalating agricultural and energy prices.


The company has also rolled out products that aims to help food processing companies substitute the higher priced dairy products for soy.


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 ability to replace animal proteins provides customers the opportunity for significant savings in their product formulations, he added.

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