By DayakDaily Team
KUCHING, April 23: The price of selected Nestle products, particularly those containing coffee and cocoa beans, may see an increase in the coming months.
According to national news reports, Nestle (Malaysia) Bhd chief executive officer (CEO) Juan Aranols emphasised the company’s contemplation of minimal price adjustments in response to rising prices of the two commodities.
“The company is cautious about price increases, which can affect customers’ purchasing power.
“However, given the volatility in the commodity markets, while we won’t fully pass on the impact of the costs, there may be some price increases that we have to undertake in the next few months,” he told reporters after launching the “Salary For Life” 2024 contest in Kuala Lumpur yesterday (April 22).
Aranols mentioned Nestle Malaysia’s prudent approach to price adjustments without specifying the affected products.
“We closely monitor commodity market conditions, and with international volatility at its peak, pricing remains a measure of last resort for us.
“We explore alternative avenues, focusing on savings and efficiency first. However, considering the price of cocoa has more than doubled over recent months, and continues to be at an incredibly high level, there will be some impact in terms of pricing,” he said.
Looking forward, Aranols anticipated subdued consumer sentiment due to factors such as food inflation driven by global commodity prices.
Despite this, he affirmed Nestle’s commitment to delivering safe, superior-quality products that outshine competitors. — DayakDaily
