SADAFCO CEO says inflation in product prices ‘imported from abroad’

10/08/2022 Argaam
SADAFCO building

SADAFCO building

Saudia Dairy & Foodstuff Co. (SADAFCO) imports large quantities of raw materials, prices of which have gone up; therefore, inflation in product prices is deemed “imported from abroad”, CEO Patrick Stillhart told Al Arabiya TV.

 

He said the firm does not plan to burden consumers by raising prices, adding, “Rather, we aim to remain in a position allowing us to secure value.”

 

Further, the CEO said SADAFCO has no plans to pass on the increased cost of some raw materials to customers, indicating the company is careful about raising the prices of selected products.

 

Finally, Stillhart expressed “cautious optimism” about the firm’s financial performance for the fiscal year ending March 2023.

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