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Chinese food giants hike prices as production costs rise

Retail prices jump as much as 18% due to soaring commodities

Chinese shoppers have been hit as food giants in the country hike prices.   © Reuters

Several Chinese food giants have announced an increase in the retail prices of their products, as rising production costs and a higher producer price index (PPI) erode profit margins.

Companies including Foshan Haitian Flavouring & Food, Jiangsu Hengshun Vinegar Industry and Chacha Food have raised their prices as much as 18% in the past month.

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