ST. LOUIS, Mo. – Solae plans to increase prices by 8 percent throughout the world, effective immediately, or as contracts allow. Solae said its decision to increase prices is based on the continued trend of increasing global inflation and agricultural cost increases as well as extraordinary global demand for soybean, leading to crop scarcity that impacts underlying soy prices.

"Given the 2012 outlook with fluctuating economic trends and increased demand for commodities, this new pricing is critical to our business and our ability to serve our customers," said Torkel Rhenman, chief executive officer. "We are determined to continue delivering the innovative, high-quality soy ingredients that our customers rely on."

Solae LLC calls itself the world leader in developing innovative soy-based technologies and ingredients for food, meat and nutritional products.