new Delhi. The ever-increasing inflation is increasing the problems of the people. After expensive petrol-diesel and edible oil, now the prices of products like soap, surf, dishwash have increased. In fact, the country’s largest FMCG company Hindustan Unilever Limited (HUL) has increased the prices of these products by 3 to 10 percent in February.
The company has increased the prices for the second consecutive time in two months. HUL says that it has been decided to increase the prices of these products for the second time to reduce the impact of higher raw material prices. The hike in prices is in line with what the management had said after the December quarter earnings.
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hence the increased prices
The company had indicated in December that it would consider raising prices in a phased manner if raw material inflation was higher than the December quarter. HUL’s Chief Financial Officer (CFO) Ritesh Tiwari said that in view of the rising cost, our first priority is to make very hard savings and then increase the prices in a phased manner.
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The company itself has expressed concern over the demand
Brokerage firm Edelweiss Securities says that the FMCG company has increased the prices of soaps, surfs, dishwashes and other products by 3-10 per cent in February. The investigation revealed that the prices of Surf Excel Easy Wash, Surf Excel Quick Wash, Vim Bar & Liquid, Lux and Rexona Soaps and Ponds Talcum Powder have increased. The company has made the increase at a time when it itself has expressed concern over the demand environment. Especially in the rural market.
Prices were increased by 20 percent in January
In January this year too, HUL had hiked the prices of its Wheel, Rin, Surf Excel and Lifebuoy categories of products by up to 3-20 per cent. The company had also increased prices in the December and September quarters due to increase in the prices of tea, crude palm oil and other commodities. This made it one of the FMCG companies whose operating income grew year-on-year in the December quarter.
Other companies can also make products expensive
Hindustan Unilever’s market share on the back of its products saw the biggest expansion in 10 years in the December quarter. In such a situation, the increase in the prices of essential products by the largest FMCG company raises concerns about the impact on retail inflation in the country. Other companies can also increase the prices of products in the coming week.
Tags:, Price hike
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