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Strategies & Market Trends : Coming Financial Collapse Moderated -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (354)	6/27/2001 9:11:00 PM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 974

It always starts with the little things, like cereal for example... dailynews.yahoo.com Wednesday June 27 5:35 PM ET Quaker, Kellogg, Kraft Hike Cereal Prices CHICAGO (Reuters) - Quaker Oats Co. (NYSE:OAT - news), Kraft Foods Inc. (NYSE:KFT - news) and Kellogg Co. (NYSE:K - news) on Wednesday said they were raising prices on ready-to-eat cereals to try to offset rising costs, following the lead of No. 1 U.S. cereal maker General Mills Inc. (NYSE:GIS - news) Higher packaging and marketing expenses as well as product development costs have driven the increases, representatives from the companies told Reuters. Kellogg, the No. 2 U.S. cereal maker, said it raised prices 2.5 percent on ready-to-eat cereals effective June 16 in response to higher fuel and packaging costs, spokesman Richard Lovell said. Kraft's Post cereals line will undertake its first major price increase in eight years beginning July 2, when prices on most of its brands, such as Grape Nuts and Raisin Bran, will rise about 2.4 percent on average, or roughly 8 cents a box. Quaker Oats said it initiated a price increase of about 3 percent on June 20, affecting about 80 percent of its cold cereals, excluding its bagged cereal lines. General Mills recently raised its cold cereal prices by about 2 percent. ``We and our major brand competitors have all increased list prices in the last month,'' General Mills Chairman and Chief Executive Steve Sanger said on Wednesday in a conference call. The U.S. cereal category has shown some growth in each of the last three months and the market was up again in the first two weeks of June, Sanger added. KJC