ING states on page 8 that further price rises for its products are expected in FY23.
The $64 million questions are 'how much' and 'what percentage of increased costs will these recover' but the solace is that major competitor Baiada (Steggles) and smaller processors can't be immune from these hits to the bottom line.
That NZ operations face a constraint of a shortage of carbon dioxide, affecting processes like MAP packaging, is intriguing, but this article fills us in:
https://www.stuff.co.nz/business/128082418/carbon-dioxide-shortage-could-add-to-rising-food-prices?rm=a
ING states on page 8 that further price rises for its products...
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