NEW YORK–(BUSINESS WIRE)– IFF (NYSE: IFF) today announced that it is implementing broad-based pricing actions across all four divisions – Nourish, Health & Biosciences, Scent, and Pharma Solutions. The immediate need for these price increases is driven by the continued and significant escalation of raw material, energy and logistics costs as a result of the current geopolitical climate.
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.
Actions on specific accounts will be communicated by the respective account managers.
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