San Pedro Garza García / MX. (gr) According to Mexico’s Gruma S.A.B. de C.V. the third quarter mirrored a trend the company identified during 2Q21 in terms of the positive evolution of its tortilla retail channel both in the U.S. and in Europe, which has taken place in addition to the paced recovery of the tortilla food service channel in these two divisions. After successfully implementing higher prices for its corn flour products in the U.S. and Mexico, the company is pleased to see its revenues reflecting the pricing changes at its corn flour operations to restore profitability, and the very satisfying performance at the tortilla business. Moreover, at the tortilla business in the U.S., the company recently raised prices, setting a solid foundation for Q4-2021 and for 2022. Furthermore, the company is pleased to report a very positive uptake of its products in Asia and Oceania, both representing a huge opportunity for the Gruma brand, which the company has been capitalizing on very effectively – Gruma said in its Q3-2021 statement.
For additional information please read the company’s PDF file below (1’075 KB):
20211026-GRUMA-Q3-2021.
