We also see no signs of reduced competition. Price and promotional activities continue to be hefty in some markets, as well as in some categories, despite the rhetoric of some to the contrary. What is actually happening in the markets will continue to be the key driver for our decision-making.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 $120 per barrel through March and April, then hit $90 a barrel end of June, and now is again $105 and rising. Oil in the U.S., the severe droughts in large parts of the country already leading to sharp inflated prices for soybean, corn and wheat prices.
Unilever NV Management Discusses Q2 2012 Results - Earnings Call Transcript
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