Kraft Foods Seeks Consumer Input on NPD

06 June 2006

NORTHFIELD, ILLINOIS - Food giant Kraft is inviting consumers to come up with ideas for new products.

Details of the program, aimed at boosting profits, are still being worked out, but links on the Kraft website will allow the submission of ideas. There will also be a toll-free telephone number.

The company, whose brands include Oreo cookies, has seen profits slump 24% in the past two years and has announced plans to slash jobs and close plants.

In 2005, net income was $2.63 billion (€2.02bn; £1.39bn) down from $3.48 billion in 2003.