IFF Signals Price Hike Across All Segments To Slash Rising Cost Burden

(RTTNews) - International Flavors & Fragrances, Inc or IFF (IFF) said on Thursday that it is raising the prices of its products and services across all four divisions, including Nourish, Health & Biosciences, Scent, and Pharma Solutions, with immediate effect.

The move follows the continued and significant rise in raw material, energy, and logistics costs fuelled by the ongoing geopolitical issues.

"Pricing actions will vary by business and be driven by specific product cost increases. These actions will include more frequent pricing reviews - dynamic pricing - to ensure IFF product reflects current market realities," the company said in a statement.