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P&G, HUL, Wipro, Godrej raise prices of soaps and detergents
Fast-moving consumer goods (FMCG) giants including Hindustan Unilever (HUL), Wipro, Godrej Consumer Products and Procter & Gamble (P&G) have increased the prices of some of its products to offset high input costs.
Fast-moving consumer goods (FMCG) giants including Hindustan Unilever (HUL), Wipro, Godrej Consumer Products and Procter & Gamble (P&G) have increased the prices of some of its products to offset high input costs.
HUL, for instance, has raised prices of its Hamam, Lifebuoy Total and Dove soaps by 2-4% in the current quarter (January-March), according to retailers. A 100 gm pack of Hamam soap now costs Rs 25, compared with Rs 24 earlier, while Dove 75 gm price has been raised to Rs 45 from Rs 44.
An HUL spokesperson couldn't immediately provide details of the price increases.
A Wipro spokesperson said that the price of Santoor soap has been raised by an average 4.5%.
Godrej Consumer Products had increased prices by 4-5% in January due to high input costs rising from a depreciating rupee and increase in global crude oil prices, Vivek Gambhir, MD, had told HT in an interaction.
Aprt from soaps, HUL and P&G are also learnt to have taken selective price hikes in detergents. Prices of HUL's Wheel and Surf Excel Easy wash detergents have been raised by 2-5% and P&G's Tide detergent is now dearer by 3-4%.
"Increase in input costs amid the slowdown has led to companies taking price hikes in large categories," said Antique Stock, broking analyst Abhijeet Kundu.
"FMCG companies will try to achieve the balance; absorb some cost inflation and pass on the rest to consumers," said Gautam Duggad of Motilal Oswal Securities.
