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PRICE OF BREAD MAY RISE DUE TO DROUGHT: AUSTRALIAN FOOD GIANT.

AsiaPulse News

| October 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW YORK, Oct 1 Asia Pulse - The price of bread could rise again by the end of the year due to the effects of the drought, Australia's largest food company Goodman Fielder Ltd (ASX:GMF) warned today.

Goodman Fielder Ltd, whose brands include MightySoft, Helga's and Wonder White, already announced a five per cent price increase earlier this month, adding nine cents to the wholesale price of a loaf of bread.

Today, chief executive Tom Park said another price rise could come soon.

"We may need to take further price increases towards the end of this year or into next calendar year," Mr Park said in New York.

"Certainly the drought in Australia has worsened in recent weeks and as we look forward I'm flagging ...

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Source: HighBeam Research, PRICE OF BREAD MAY RISE DUE TO DROUGHT: AUSTRALIAN FOOD GIANT.

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