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The Solae Company Announces...

The Solae Company Announces Soy Protein Price Increases

08 Feb 2005
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As of March 1, the price of soy protein isolates and nuggets will increase by 5%.

08/02/05 The Solae Company has announced that effective March 1, 2005 the price of its soy protein isolates and nuggets will increase by 5%, and the price of its soy protein concentrate, flour and fiber products will increase by 7%. "Increased consumer demand for all sources of protein worldwide has impacted the cost of proteins this past year, including soy proteins," said James McCarthy, senior vice president/North America and Specialty Products for The Solae Company. "For example, dairy protein increased in price by 15% to 40% last year, while pork and poultry prices increased by 19% and 26%, respectively. Given those figures, we believe our increases are modest." Also effective March 1, 2005, the premium for all Identity Preserved (IP) Non-GMO products will increase by an additional $0.05/kg. "Plantings of genetically modified soybeans globally continue to escalate and are expected to reach as high as 90% of the US soybean crop in 2005. This price increase reflects the cost associated with securing and segregating the necessary IP Non-GMO soybeans and their related soy protein products," McCarthy said. According to McCarthy, the growth in protein consumption is being driven by rising global GDP and global recognition of the positive health benefits of protein in diets. Soy protein, in particular, is being sought out by more and more consumers as a daily dietary choice for its help in weight management and the reduced risk of heart disease.

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