Dow to raise price of all products by up to 20%

05-Jun-08

In a bid to soften the exceptional rise in energy and related raw material costs, The Dow Chemical Company will raise the price of all of its products by up to 20%, with effect from June 1, 2008. The exact price hike will depend on their exposure to rising energy, feedstock and transportation costs. The company's Q1 feedstock and energy costs that mounted by an incredible 42% y-o-y, are expected to escalate further, with the persistent increase in oil and natural gas prices. Dow spent US$8 billion on energy and hydrocarbon-based feedstock costs in 2002. At the current rate, those costs would climb to $32 billion this year.