Spain's Ebro Foods has ramped up production of pasta and rice in Western Europe and the United States in the past couple of weeks to meet growing demand by consumers worried by the coronavirus crisis, a company spokeswoman said.
Consumers around the world have been stockpiling non-perishable food and household items as the coronavirus spreads on fears they may end up in quarantine at home.
"To follow the peak in demand, we have increased our overall production in Italy, France, United States, Germany, Britain and Spain by 15% to 25%," the spokeswoman said.
Ebro Foods owns brands such as Garofalo in Italy, Panzani in France and Minute Rice in the United States.
No Trouble Sourcing Raw Materials
It has not had trouble sourcing raw materials on the market or noticed price volatility, the spokeswoman said, adding, "We have our own stocks of raw materials and future contracts."
The company expects the market will adjust at some point as fears ease.
Spain's Ebro Foods reported a 7.6% year-on-year growth in turnover to €2.8 billion in its financial year 2019, driven by the positive performance of its brands.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
