Kraft set to raise food prices again this year

Food giant Kraft Foods, the owner of Cadbury, has warned that it will increase the prices of its products again this year because of higher raw material costs…

Last year’s $1.89bn profit was boosted by a one-off gain from asset sales, including its frozen pizza business…

The company, which is the largest food maker in the US, said it had also boosted spending on marketing and product development during the period.

Most of the commodities that Kraft uses to make its products have risen in price, including corn, cocoa and as well as energy costs.

>> BBC

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