Danisco Animal Nutrition, a business of IFF’s Health & Biosciences division, has announced a global price increase across its entire product portfolio, effective immediately or as contracts allow. The move is the result of unprecedented cost escalation on raw materials, packaging and logistics. The company is increasing prices by up to 10%, depending on the product grade and geography.
“Our Animal Nutrition business has historically been able to offset increases in input costs through efficiency gains. Unfortunately, the COVID-19 pandemic has had a sustained and lasting unfavorable impact on input costs around the world,” the company noted.
The company said the industry is facing dramatic price increases for air and ocean freight and that the prices of key raw materials and packaging have reached historic highs. “Regrettably, we cannot continue to absorb these additional costs and maintain our pace of product supply in the medium to long term.”
Pauel Fokin, vice president of Danisco Animal Nutrition, IFF, commented, “By taking this difficult - yet necessary - decision of introducing price increases now, we provide ability for our customers to plan while allowing us to maintain our position as trusted partner and supplier of innovative feed additives and services that continue to deliver value, efficiency and that optimize grower productivity.”
Danisco Animal Nutrition, now part of IFF is an industry leader in nutritional health solutions with a comprehensive portfolio of feed enzymes, betaine, phytogenics and probiotics. Through the lens of nutribiosis, The company’s capabilities are underpinned by the quality and quantity of our trials, including over 80,000 guts sampled from over 500 farms, investments in omics technologies and microbiome research, and collaboration with leading commercial, governmental and academic partners.