[Epoch Times November 05, 2021]Hengshun Vinegar Industry, known as “China’s Largest Vinegar Enterprise”, announced on October 3 that it will adjust the prices of some products ranging from 5% to 15%. This means that in the “chai, rice, oil, salt, sauce, vinegar and tea”, the price increase of the four necessities of life for the common people: oil, salt, sauce, and vinegar is a foregone conclusion.
“Securities Times” reported that on November 3, Golden Arowana disclosed the survey minutes that the company adjusted the prices of different oil types at the end of 2020 and March-April 2021, and the overall price increase was about 10%-15%. The current price increase has not fully covered the increase of raw materials, and the trend of raw materials and consumption needs to be paid attention to in the later period.
In fact, this statement of Arowana is regarded by the industry as a relatively strong price increase expectation. Recently, more than a dozen listed A-share food companies such as Angel Yeast, Haitian Weiye, Jiahe Foods, and Haixin Foods have announced price increases or Respond to price increase preparations.
After entering November, a number of listed companies in the food industry have successively issued announcements to adjust the prices of their products, which has attracted widespread attention.
On November 4, Jiahe Foods, the leader of non-dairy creamers, said in an institutional survey that food companies, including Nestlé and other giants, are increasing prices one after another. The raw materials are still at a high level, and will follow the trend of the raw materials in the later stage to increase prices. The range will be calculated based on the market, including the situation of competitors. At present, the new cost will be calculated for the new order to increase the price.
Public information shows that Jiahe Food Industry Co., Ltd. is a large-scale food enterprise integrating the research and development, production and sales of non-dairy creamer, coffee, solid beverages, and food ingredients.
According to Red Star News, in the past month, at least 11 listed companies in the food industry have announced price increases of 3% to 35%.
In this year’s round of price increases, Haitian Flavor Industry made the first shot.
On October 13, Haitian Flavour Industry announced that it would adjust the ex-factory prices of some products such as soy sauce, oyster sauce, and sauces, ranging from 3% to 7%.
Qiaqia Food is closely followed. On October 22, Qia Qia Foods stated that the ex-factory prices of sunflower seeds, pumpkin seeds and small and fragrant watermelon seeds were adjusted by 8% to 18%.
After entering November, more listed companies in the food sector issued intensive announcements announcing the increase in product prices.
For example, Anjing Foods and Haixin Foods both announced that they would reduce their promotional policies for some quick-frozen surimi products, quick-frozen dishes, and quick-frozen rice and noodle products, or increase their distribution prices, ranging from 3% to 10%.
Delis, one of the leaders in the low-temperature meat industry, stated on the interactive platform on November 4 that based on market changes, the company has adjusted the price of beef products related to pre-prepared vegetables a month ago, and recently it has also renewed some beef products. Raise prices.
Jiajia Food, the main condiment, also announced on the 4th that from November 16th, the prices of soy sauce, fuel consumption, cooking wine, chicken essence and vinegar will be adjusted by 3% to 7%.
Listed companies in the salt industry are also raising product prices. Xuetian Salt, Su Yanjingshen and Yunnan Energy Investment have all stated that they have raised the prices of salt products. Among them, Yunnan Energy Investment’s comprehensive average price adjustment range ranges from 30% to 35%.
In addition, some leading companies have chosen to postpone price increases. On November 3, Fuling mustard mustard, known as “Moutai,” said on the interactive platform that when there is a price increase trend in the industry, the company can temporarily postpone the price increase in order to squeeze competing products and increase Wujiang’s market share. However, as early as last year, Fuling mustard pickled mustard has already raised prices by 14% in disguise.
According to statistics, the reasons for these companies to increase product prices are basically “continuous increase in costs”, including rising costs for raw materials, transportation, labor, and energy.
Ping An Securities stated that the sharp rise in commodity prices has pushed up the cost of raw materials at the production end of the product, resulting in a recent wave of price increases in the food industry.
Editor in charge: Li Bing#
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