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To: KyrosL who wrote (80002)	3/14/2007 1:00:24 PM
From: Broken_Clock	Respond to of 110194

this should give Ben something to chew on(ouch!) ++++ Wrigley to raise prices an average 10 percent Wed Mar 14, 2007 12:37pm ET18 By Brad Dorfman CHICAGO (Reuters) - Chewing gum maker Wm. Wrigley Jr. Co. (WWY.N: Quote, Profile , Research) plans to raise prices by about 10 percent, on average, in the United States, the company said on Wednesday, becoming the latest U.S. food maker to increase prices in the wake of rising costs. Executives for the world's largest chewing gum maker noted the company has traditionally been conservative when it comes to price increases. "We thought now was the right time to make a move in the U.S.," Reuben Gamoran, chief financial officer, said during the company's annual shareholder meeting. Reuters Pictures Photo Editors Choice: Best pictures from the last 24 hours. View Slideshow Wrigley competitor Cadbury Schweppes Plc (CBRY.L: Quote, Profile , Research), maker of Trident and Dentyne chewing gums, recently announced it would substantially increase selected gum prices in the United States. Food companies have been hit by surging corn prices as that crop is used in ethanol, which has raised the cost of high fructose corn syrup, a widely used sweetener. Gamoran conceded that the price increase could hurt gum sales volumes in the short term. The price increase also comes as Wrigley tries to improve its margins, which have shrunk as the company has added more lower-margin candy products to what has traditionally been a higher-margin chewing gum business. In 2006, the company said gross margin fell to 51.9 percent compared with 54.2 percent in 2005. Continued... © Reuters 2007. All Rights Reserved.