Finally, we expect increased volatility in commodity costs behind structurally underlying changes such as the population growth and the increasingly weather-related events. Take for example crude oil, which traded at around EUR 120 per barrel through March and April, then hit EUR 90 a barrel end of June and now is again EUR 105 and rising. Or in the U.S., the severe drought in large part of the country, already leading to sharp inflated prices for soybean, corn and wheat prices. Yet despite all of this, as the result show we, Unilever, are increasingly able to whether all these storms and deliver the consistent results most of you are getting accustomed to from this company. Although I fully realize that it is hard to move the few remaining glass-is-half-empty case out there in this climate, we'll continue to welcome it.We continue to drive -- be driven by an opportunity mindset, not a scarcity one. The population will grow from 7 billion to 9 billion. In fact, every year, 150 million people are entering the middle classes every year and global income per capita over the next 15 to 20 years is expected to more than double. As the emerging market consumer goods company, our expanding footprint there is increasingly a source of competitive advantage. Our brands and our organizations are getting stronger as well and our strategy is delivered, each time, with more and more discipline.
Unilever Management Discusses Q2 2012 Results - Earnings Call Transcript
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