By Stephen Nakrosis
Oil-Dri Corp. of America on Thursday said it would increase prices for its agricultural, bleaching clay and fluid purification products, effective Aug. 1.
The company said the price increases will range up to 7% depending on the product.
Daniel S. Jaffee, Oil-Dri’s president and chief executive, said, “These price increases are necessary to offset significant inflationary pressure from higher freight, packaging, materials, natural gas, and non-fuel manufacturing costs.” He also said, “Despite expense optimization and improved operational productivity, the magnitude of these increases can no longer be absorbed by the company without pricing actions.”
–Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
