Dive Summary:
- Hain Celestial, makers of natural and healthy foods, have posted yet another quarter of exceptional growth, especially in their Greek Gods yogurts and Earth's Best baby food.
- The company did, however, warn consumers and experts alike that almond and chia prices were expected to rise 30% in the second half of 2013.
- Primarily due to high demand and low crop yields, the expected rise in price is one of the more drastic increases in commodity prices as of late and is indicative of the volatility of the ingredient market.
From the article:
Hain Celestial has posted another impressive set of quarterly figures, with rocketing sales growth for Greek Gods yogurts and Earth's Best babyfood pouches, but warned that almond and chia prices are going through the roof. Asked about commodity pricing on the firm's Q2, 2013, earnings call yesterday, John CarroCarroll, executive vice president and CEO at Hain Celestial US, said:
“Second half almond and chia pricing will be up over 30% versus the first half, so not just versus a year ago,
but versus the first half, due to higher demand and lower crop yields.”