Red Star, Lesaffre detail price hikes
July 02, 2008
by Eric Schroeder
MILWAUKEE — Red Star Company L.L.C. and Lesaffre Yeast Corp. announced they will raise prices on fresh and dry yeasts, as well as allied baking products, effective Aug. 15, or as current contracts expire.
According to the companies, Red Star block prices will increase 8c per lb and bag yeast prices 5c per lb, while cream yeast pricing will be raised 2c or 3c per lb, depending on the U.S. and Canadian pricing zone. In addition, all SAF-Instant and Red Star dry yeasts will increase by 10c per lb as well.
The companies said the prices for Saf-Pro dough conditioners and Red Star allied baking products will be raised by 10% to 15% in the United States and Canada.
The new pricing plan is expected to remain in place until the end of the year, at which point the companies said they would reevaluate pricing.
"Fuel surcharges will continue to be applied to all invoices for current sales and future contractual commitments," the companies said. "Order minimums and full pallet sales conditions will be strictly enforced. Red Star and Lesaffre are working very hard to provide cost control and improved process efficiency, but these extraordinary conditions force us to take the needed price action."