Benzinga | Jul 1, 2021 04:08PM EDT

Oil-Dri Announces Price Increases Of Up To 7% For Its Agricultural, Bleaching Clay And Fluid Purification Products

Oil-Dri Corporation of America (NYSE:ODC) today announced that it will increase prices for its agricultural, bleaching clay and fluid purification products. The price increases, effective August 1, 2021, will range up to 7% depending on the product.

Daniel S. Jaffee, President and Chief Executive Officer, stated, "These price increases are necessary to offset significant inflationary pressure from higher freight, packaging, materials, natural gas, and non-fuel manufacturing costs. Despite expense optimization and improved operational productivity, the magnitude of these increases can no longer be absorbed by the company without pricing actions."

Oil-Dri sales representatives will communicate additional details of the price increase to their customers directly.