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"We are well hedged in the year 21, but the pressure for the year 22 is increasing, so there will be a need to raise prices," Quincey said, noting that the company expects commodity costs to rise in 2022. He also noted that the company intends to manage price increases in a "reasonable manner".
However, Quincy did not specify which of the company's products would be affected by the price increase. The channel also clarified that Coca-Cola last announced price increases in 2018, citing rising aluminium prices.
Earlier, Coca-Cola released its financial report, which showed that the company's net profit attributable to its shareholders fell 19 per cent year-on-year to $2.245 billion in the first quarter. Coca-Cola said first-quarter sales showed improvement each month as markets recovered and pandemic uncertainty eased.
The Coca-Cola Company was founded in 1892 and is headquartered in Atlanta, Georgia. The company's best-known brands are Coca-Cola, Fanta and Sprite.
source: cnbc.com
However, Quincy did not specify which of the company's products would be affected by the price increase. The channel also clarified that Coca-Cola last announced price increases in 2018, citing rising aluminium prices.
Earlier, Coca-Cola released its financial report, which showed that the company's net profit attributable to its shareholders fell 19 per cent year-on-year to $2.245 billion in the first quarter. Coca-Cola said first-quarter sales showed improvement each month as markets recovered and pandemic uncertainty eased.
The Coca-Cola Company was founded in 1892 and is headquartered in Atlanta, Georgia. The company's best-known brands are Coca-Cola, Fanta and Sprite.
source: cnbc.com
