Consumers may have to get used to higher food prices in the long term, the head of Kraft Heinz said in a recent interview.
CEO Miguel Patricio told the BBC that a variety of factors, including high prices for ingredients and a labor shortage, are driving up the price Kraft Heinz must charge for its products. "We are raising prices, where necessary, around the world," he said.
Patricio said that Kraft Heinz would try to absorb higher costs as much as possible: "I think it's up to us, and to the industry, and to the other companies, to try to minimize these price increases."
He said the pandemic had some upsides for the company, mostly motivating consumers to eat at home. One effect was increasing demand for ketchup packets used in takeout orders. Kraft Heinz expanded production of them by 30%, despite that this works against the company’s long-term goal of reducing plastic waste.