Nestlé says it will adjust its product portfolio and raise the prices of some products

Swiss food giant Nestlé Group’s global CEO Mark Schneider stated on the 9th that, in response to rising energy, freight, and raw material costs, Nestlé is restructuring its product lineup, raising prices on some items, and cutting products that consumers are unwilling to pay more for. Schneider noted that although the Middle East conflict has had almost no direct impact on Nestlé’s sales, it has intensified inflationary pressures faced by Nestlé’s suppliers, and these costs will be passed on to Nestlé. The Middle East business accounts for about 2% to 3% of Nestlé’s sales, with the main impact coming from inflation. (CCTV Finance)