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The world’s second-largest meat processor says it will keep raising its prices.
In its third quarter, which runs to July 3, Tyson Foods hiked up its average price for pork by 39%, beef by 12%, and chicken by 16%, it said Monday.
CEO Donnie King said during an earnings call that the company planned to raise prices for retailers again next month to cope with higher costs — he estimated that “unprecedented inflation” reached 14% in the quarter.
“Costs are hitting us faster than we can get pricing at this point,” King said.
“We will continue to take details ⇒
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