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FINANCIAL NEWS
Food companies suffering in GCC from strict pricing
02 Jun 2011
(MENAFN) Managing Director at Kraft GCC, Vishal Tikku, said that the strict pricing measures for food imposed by the governments across the region took its toll on the profits of food manufacturers in the Gulf, reported The National.
Tikku called the government in the UAE in particular to an open dialogue regarding how global hikes in food prices should be handled in a way that protects the interests of consumers as well as manufacturers.
Tikku added that if such strict measures were not adjusted, the situation would become dangerous, especially that commodity prices are not going down.
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