Inyange Industries, Rwanda’s largest food processing company has slapped an average of 20 percent price increment on its brands, citing a surge in the prices of raw materials.
Management said that the decision has been triggered by the volatile foreign exchange market, where the US dollar has been significantly appreciating against the Rwandan Franc.
“Raw materials were becoming too expensive. We raised the prices in relation to the prices of raw materials on the international market,” Inyange’s Marketing Manager, Prosper Karasanyi told Business Times in a phone interview.
In the new price structure, the price for mineral water have risen to Rwf2,400 from Rwf1,800 per carton of 500ml bottles. The Price of apple juice has increased to Rwf6,600, up form Rwf5,400 while mango juice increased from Rwf4,800 to Rwf6,000.
Passion, pineapple and orange juice (500 ml) increased from Rwf4,400 to Rwf6,000. Prices for Tetra pak apple, mango, passion, pineapple and orange increased to Rwf10,800 from Rwf9,500. Milk products like the newly introduced UHT milk (II), UHT milk (500ml) also rose from Rwf8,700 to Rwf9,600 and Rwf10,800 respectively while yogurt (250ml) increased from Rwf300 to Rwf350 as yogurt (120ml) and water gallon remained stable at Rwf200 and Rwf2,500 respectively.
In the new prices, which have already pushed retail prices up, come at a time the company is planning to expand its presence in Southern Sudan, Ethiopia and Kenya. Inyange products are present in the DRC, Burundi, Uganda, and Tanzania.