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Portugal's Navigator hikes tissue prices to offset input costs

·1-min read

LISBON (Reuters) - Portuguese pulp and paper producer Navigator said on Tuesday it would raise the price of its tissue products to offset what it described as an "unsustainable" spike in input costs from including energy to packaging materials.

Navigator, which sells more than 80% of its products to 130 countries on five continents and the rest to domestic clients, said in a statement the "global change in the economy" was affecting the overall industry.

From Jan. 15 onwards, a 15% surcharge will be applied to all of Navigator's tissue products. The decision will be reviewed regularly based on evolving market conditions, the company said.

Navigator said it had experienced significant spikes in the cost of natural gas, pulp, chemical products, wood pallets and logistics, adding that the "exceptional measure" was needed to support the long-term sustainability of its business model.

(Reporting by Catarina Demony; editing by Richard Pullin)

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