LANXESS Announces Global Price Increase

LANXESS, a specialty chemicals company, is raising prices across its entire Flavors & Fragrances (F&F) business unit portfolio, which comprises all preservatives, benzoates, intermediates, aroma chemicals and multi-functional products. As this price increase will apply depending on the product or region, individual communication with customers will take place. The reasons for the price adjustments are unprecedented challenges with significant impact particularly on logistics and production. Fragile supply chains, substantially rising raw material and energy costs - such as crude oil and natural gas prices reaching record levels as a result of the war in Ukraine - are creating significant consequences throughout the entire supply chain. F&F product offerings are used in a wide variety of consumer products such as food, beverages, cosmetics, cleaners, detergents, pharmaceuticals and animal feed to provide flavour, fragrance, shelf life and essential performance characteristics. Source