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Unilever Experiences Cost Inflation

07/25/2021

Unilever, the food multinational posted a five percent rise in sales for the first half of 2021 to $30.3 billion.  Food and refreshment products rose eight percent to $12 billion.  Due to inflation and increased promotional expenses, operating margin fell to 18.8 percent.  The decline in margin was partly offset by increased prices and savings. 


Alan Jope CEO Unilever

 

Products that have undergone inflation include soybean oil that advanced by 20 percent in the last quarter and was up over 80 percent year-on -year.  Concurrently, palm oil and soybean oil rose in unison. 

 

COVID has impacted volume of sales and channels, through a shift from food service to home cooking.  CEO Alan Jope stated, "we continue to see strong growth for Unilever ahead and we do not see this trend reversing as we exit the pandemic.  Unilever uses cage-free eggs for Hellman's mayonnaise and for their ice cream portfolio.