Galam Group Increases Crystalline Fructose Prices
"We already face an increased demand in the markets that already approved Stevia and this could result in short term in upward pressure on prices, due to the limited capacities," the company said in a statement.
Oct 1 2010 --- Galam Group has announced that it will increase price for its crystalline fructose, fruitose, when renewing new contracts for 2011. The increase in price is driven by sustained increases in sugar, fuel, and freight costs. Moreover, upcoming global approval of Stevia in Europe will increase demand for other natural sweeteners and particularly for fructose. "To this extent, we already face an increased demand in the markets that already approved Stevia and this could result in short term in upward pressure on prices, due to the limited capacities," the company said in a statement.
"We are constantly investing in initiatives to reduce costs, however we continue to face strong increases in raw material, energy and freight costs," says Alon Heyman, Vice President, Marketing at Galam Group. "The price increase will allow us to continue and offer the best sweetening solutions to the market while keeping the same level of technical support."
Galam Group is a leading Fructose, Glucose and wide-range of Native and Modified Starch manufacturer. The company provides most of the Israeli domestic industrial demand for these products, and is one of the largest suppliers of Fructose (branded Fruitose) for Europe and an important player worldwide.
Last week Corn Products International, Inc. signed a supplier agreement with Galam Group. Pending the anticipated regulatory authorization of the use of steviol glycosides as a food additive in Europe, the agreement will provide an opportunity longer term to leverage Galam Group’s strong presence in Europe and Israel to help market natural sweetening solutions containing Enliten high Reb A stevia sweetener to food and beverage manufacturers in these markets. Enliten is produced from a special, patented variety of stevia leaf that results in strong product consistency. The ingredient is naturally-based and extracted from stevia plant leaves without undergoing any chemical modification.
