Consumers may have to pay more for their daily essential items with FMCG companies mulling another round of price hikes to offset the impact of an unprecedented level of inflation in commodity prices such as wheat, palm oil, and packaging materials.
Besides, the ongoing war between Russia and Ukraine has also added another blow to FMCG makers as they expect a rise in the prices of wheat, edible oil and crude. Companies such as Dabur and Parle are watching the situation and will undertake calibrated price increases to mitigate the inflationary pressures.
As per some media reports, makers such as HUL and Nestle have increased the prices of food products last week. We are expecting a 10-15 per cent hike by the industry, Parle Products Senior Category Head Mayank Shah said.