As a trade down, Hormel should be able to pass through some percentage of cost increases, assuming other food producers sustain price hikes as well.

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In his speech, Yudhoyono discussed his concerns for price hikes in food and energy prices that could lead to inflation, povery and even unrest.

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The company has been reluctant to pass on rising commodity costs through price hikes fearing that such a move might drive them away to rival food chains.

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