topic Re: Kraft Heinz announces big price increases in Kitchen

Kraft Heinz announces big price increases

novamc1 — Fri, 28 Jan 2022 13:37:58 GMT

Jan. 27, 2022

Kraft Heinz plans to raise prices on some of its most popular products by up to 30% this spring, according to a report in CNN.

The company said in a letter to wholesalers dated Jan. 24 that it plans increases on dozens of products, ranging from 6.6% on 12oz Velveeta Fresh Packs to 30% on Oscar Mayer Turkey Bacon. Coffee and other beverages will also be affected. The letter was shown to CNN Business by a wholesaler who wants to remain anonymous.

Kraft Heinz said in the letter that it was being forced to raise prices by factors including "constrained supply, logistic bottlenecks and weather-driven crop losses."

The company had instituted an earlier round of price increases last fall for some Oscar Mayer products.

Re: Kraft Heinz announces big price increases

4kitties — Fri, 28 Jan 2022 13:03:17 GMT

I try hard to stay away from processed meats and foods. They are filled with salt and chemicals. If these companies raise their prices to levels I find unacceptable I will just not buy them.

I will have to pay more for fresh meats and cheeses I am sure, but the processed stuff can stay on the shelf.

Re: Kraft Heinz announces big price increases

novamc1 — Fri, 28 Jan 2022 13:32:17 GMT

@4kitties

I'm sure the same inflationary forces behind price increases in food products will affect or will be blamed for similar price hikes everywhere else.

The 30-percent-higher number in that news story is a little alarming, however.

Re: Kraft Heinz announces big price increases

Eileen in Virginia — Fri, 28 Jan 2022 13:33:37 GMT

This is going to be a hit to our food budget, especially for ketchup. DH would probably stick a straw in the ketchup bottle if he thought I would let him. If we don't see outright price increases, we'll probably see more subtle cost increases through reduced sizes (the regular size for canned tuna used to be 6 ounces).

Re: Kraft Heinz announces big price increases

drizzellla — Fri, 28 Jan 2022 13:40:52 GMT

@Eileen in Virginia wrote:
This is going to be a hit to our food budget, especially for ketchup. DH would probably stick a straw in the ketchup bottle if he thought I would let him. If we don't see outright price increases, we'll probably see more subtle cost increases through reduced sizes (the regular size for canned tuna used to be 6 ounces).

When we were kids a bottle of Heinz ketchup did not last in our house. My brother put ketchup on many things. It became a family joke. You don't know how happy my parents were when Heinz came out with the "Keg" of ketchup.

They thought that the bottle would last longer. HA! I think my brother only used more.

Re: Kraft Heinz announces big price increases

RespectLife — Fri, 28 Jan 2022 13:58:44 GMT

Maybe the store labelled products will not increase that much. They are usually made/processed in smaller, independent facilities.

I do expect to see increases on everything, everywhere though.

I buy Wegman's condiments and they are WAY less than Heinz and just as good.

Not a fan of Great Value products at Wally though....

Re: Kraft Heinz announces big price increases

millieshops — Fri, 28 Jan 2022 14:09:06 GMT

Of all the kinds of products mentioned, the one I use every day is coffee. I could notice that increase. I buy fresh catsup about once a year whether I need it or not, so if we get to the point where I feel that increase, our lives will have changed in many more serious ways I fear.

Re: Kraft Heinz announces big price increases

meallen616 — Fri, 28 Jan 2022 14:10:36 GMT

@novamc1,

Thanks for posting,

Re: Kraft Heinz announces big price increases

beckyb1012 — Fri, 28 Jan 2022 14:36:47 GMT

@drizzellla wrote:
@Eileen in Virginia wrote:
This is going to be a hit to our food budget, especially for ketchup. DH would probably stick a straw in the ketchup bottle if he thought I would let him. If we don't see outright price increases, we'll probably see more subtle cost increases through reduced sizes (the regular size for canned tuna used to be 6 ounces).

When we were kids a bottle of Heinz ketchup did not last in our house. My brother put ketchup on many things. It became a family joke. You don't know how happy my parents were when Heinz came out with the "Keg" of ketchup.

They thought that the bottle would last longer. HA! I think my brother only used more.

Since I found the below a few weeks ago at Walmart I have barely touched my ketchup bottle. This is addictive.

Re: Kraft Heinz announces big price increases

magicmoodz — Fri, 28 Jan 2022 14:39:06 GMT

This is a great reason for homemade (and healthier) ketchup.

Re: Kraft Heinz announces big price increases

novamc1 — Fri, 28 Jan 2022 14:50:06 GMT

I hesitate to buy any ketchup except Heinz, but have given up Heinz or French's mustard for the much cheaper but very good house-brand mustards at Aldi and Walmart.

Publix has a good grainy Dijon mustard in its house brand. I think it's the same as the house brand Dijon sold at Kroger.

Also the Salsa conqueso sauce sold under the Publix name. It's not a fake-looking bright yellow like the types sold by national brands.

Most of the time and for most products, I tend to prefer national brands.

Re: Kraft Heinz announces big price increases

chrystaltree — Fri, 28 Jan 2022 14:54:10 GMT

Old news. Everyone already knows that food prices are going up, for many unavoidable reasons. It won't matter to some people. Others will have to change their shopping habits.

Re: Kraft Heinz announces big price increases

novamc1 — Fri, 28 Jan 2022 14:54:25 GMT

Kraft Heinz sells many products not listed in that news story, and under many different brand names.

If interested, you can look up the company website where I'm sure the products will be listed. For example, I had no idea that spices and many other items were sold by that company.

Re: Kraft Heinz announces big price increases

PilatesLover — Fri, 28 Jan 2022 14:54:32 GMT

And when the bottlenecks, etc., are resolved, which they will be, how much will the prices go down again? Hmm.

Re: Kraft Heinz announces big price increases

On It — Fri, 28 Jan 2022 14:54:45 GMT

They are one of the companies that control the food supply. These monopolies can charge what they want ; we have few other choices. They probably have had some increases, but not that rate.

I hope the committee investigating these mega companies can find a solution to the greed they are exhibiting.

Re: Kraft Heinz announces big price increases

4kitties — Fri, 28 Jan 2022 14:59:14 GMT

I do not eat ketchup but I buy it for Mr 4 kitties. I do not buy Heinz as it has high fructose corn syrup in it.

Re: Kraft Heinz announces big price increases

chrystaltree — Fri, 28 Jan 2022 15:00:22 GMT

@PilatesLover wrote:
And when the bottlenecks, etc., are resolved, which they will be, how much will the prices go down again? Hmm.

Prices won't go down much at all because companies exist to make a profit for their share holders, they exist to turn millionaires into billionaires. Consumers will become accustomed to the higher prices very quickly and when things settle down, prices will stabilize. They won't go down. When have prices ever gone down? Never.

Re: Kraft Heinz announces big price increases

PilatesLover — Fri, 28 Jan 2022 15:06:29 GMT

@chrystaltree sigh, unfortunately true. I don't buy their excuses in the first place. 30% is preposterous.

Re: Kraft Heinz announces big price increases

novamc1 — Fri, 28 Jan 2022 18:11:12 GMT

Wait a minute, let's be fair. No monopoly among food companies is causing the grocery inflation being seen now.

Inflation and prices are ALWAYS a function of supply vs. demand.

Just listen to or read any financial sources. It's clear that the Federal Reserve, which has always controlled the U.S. money supply, is planning to raise interest rates, is no longer buying bonds to support a failing pandemic-ridden economy, and every time the Fed speaks (which is very often in Capitol Hill testimony), the entire marketplace convulses in one direction or another.

The same inflation affecting food is raising prices of gasoline, cars, real estate and everything else, for reasons that have been cited to death --supply chain shortages, labor shortages, and scarcity of anything from computer chips and auto parts to harvestable crops and lumber.

Also, in all my decades of experience in this country, prices DO go down when the marketplace and supply permit. Ever wonder what causes retailers to reduce prices or put items on sale? Supply vs. demand!

How can anybody forget the two big home price plunges that have occurred over the past 40-50 years, which caused such hardship among homeowners? In one of those price drops, I sold my sis and BIL a home that cost $30,000 below what the seller had paid only two years before. One of my kids left $40,000 of his original purchase price on the table when he and his wife felt the need to sell and move to a better area with top schools for their young child.

If prices don't drop appreciably, it's probably because worker wages and salaries have gone up, so price increases lose their impact, and both consumers and workers rock along in relative prosperity

Worker salaries are definitely going up, because the shortage of workers has caused employers to pay more to attract and retain their staffs.

Re: Kraft Heinz announces big price increases

DSD2 — Fri, 28 Jan 2022 15:33:01 GMT

@Eileen in Virginia wrote:
This is going to be a hit to our food budget, especially for ketchup. DH would probably stick a straw in the ketchup bottle if he thought I would let him. If we don't see outright price increases, we'll probably see more subtle cost increases through reduced sizes (the regular size for canned tuna used to be 6 ounces).

This had me laughing out loud. I can relate to the ketchup/straw story!

On a serious note, inflation is hitting us all hard. I've already realized I'm going to need to do some serious menu planning and that "luxuries" (an occasional can of cashews) will be out.

I consider myself fortunate as some will have a hard time even being able to feed their families.