CHICAGO (Reuters) - The head of ConAgra Foods Inc (CAG.N) said on Thursday that rising grain prices were putting pressure on food prices and he predicted that U.S. consumers would face higher grocery prices soon.
“Within months, you will start to see prices creep up,” Gary Rodkin, ConAgra’s chief executive, told Reuters on the sidelines of a meeting here of the Business Council. “Because there is no other choice.”
He said that food companies would “bump along for a while” and that the business would “probably be a bit more of a share game” in the near term.
Reporting by James B. Kelleher; Editing by Bernard Orr