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Empresas y finanzas

Diamond Foods to raise prices on higher walnut costs


    (Reuters) - Diamond Foods Inc said it would increase prices as the company expects to pay significantly more for walnuts after farmer complaints of underpayment.

    The company, maker of Emerald nuts, Kettle chips and Pop Secret popcorn, also said it retained Dean Bradley Osborne Partners LLC as its financial adviser to help it in assessing its capital structure.

    Last month, Diamond removed its top management after a probe by its audit committee found that the company had improperly accounted for payments to walnut growers.

    "Diamond and its advisers are making substantial progress strengthening the company's financial reporting and control capabilities and restating Diamond's consolidated financial statements for fiscal years 2010 and 2011," the company said in a statement.

    (Reporting by Mihir Dalal in Bangalore; Editing by Saumyadeb Chakrabarty)