Atlanta, Georgia, USA, May 19, 2014 (GLOBE NEWSWIRE) -- Effective July 1, CP Kelco will adjust price for GENU® Pectin products of up to 10%, due to the cost escalation of citrus peel, a key raw material used in the production of pectin.
Despite numerous and continuous productivity programs, the company is unable to absorb the cost inflation resulting from availability tightness of peel. The harvest of citrus crops has been reduced by poor weather and other agricultural conditions in the major growing areas of Argentina and Mexico. The lowered projections for current year and future harvests have led to significant citrus fruit and peel price inflation.
CP Kelco plans to accelerate its investment in expanding the raw material supply in other growing regions and is committed to advancing process technology that will improve the sustainable supply of GENU® Pectin.
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ABOUT CP KELCO:
CP Kelco is a leading global manufacturer and marketer of specialty hydrocolloids, with facilities in Europe, North America, Asia and Latin America. Owned by J.M. Huber Corporation, CP Kelco's product lines include pectin, xanthan gum, carrageenan, cellulose gum, gellan gum, diutan gum, and other novel biopolymers, marketed under brand names including BRASPOLPA®, CEKOL®, FERPEC®, FINNFIX®, GENU®, GENUGEL®, GENUVISCO®, GENULACTA®, KELTROL®, KELZAN®, KELCOGEL®, SLENDID®, SIMPLESSE®, and XANTURAL®. For more information, visit www.cpkelco.com or call/email the contact listed above.
Source: CP Kelco