Parle G biscuits increase prices amid cost pressures..!?

Leading FMCG company Parle Products is planning to increase the prices of all its products by 5% from january 2025. It is said that this price increase will be applicable to Parle's biscuits, bread, cakes, and other snack products. Parle-G biscuits have been the choice of different generations. The memories of Parle-G biscuits while going to school, coming home after school, and eating them with tea are still fresh in the minds of many. Along with this price hike, Parle-G is also planning to reduce the weight of its products. That is, it has been reported that the weight of Parle-G biscuits worth 5 rupees and 10 rupees will be reduced by 5 percent to 10 percent.
 This move has been due to the increase in the cost of raw materials. The prices of essential items like wheat flour, sugar, cocoa powder have continued to rise. In addition, the import duty on palm oil has also increased inflation. The price of palm oil has increased by almost 45 percent. This step has been taken to avoid the cost burden faced by manufacturers. Britannia, a leading company in the FMCG sector, also made a similar announcement. Following this, Parle-G has now also made this announcement. Britannia announced a price hike for its products in the last quarter. These steps are being implemented by companies to offset the rising cost of raw materials. Generally, the increase in the price of consumer goods affects the poor and simple families.
 
Leading FMCG companies like Hindustan Unilever Limited (HUL), Godrej Consumer Products Limited (GCPL), Maryko, ITC, and Tata Consumer Products Limited (TCPL) manufacture daily used goods. These FMCG companies manufacture and supply countless items like tea, biscuits, toothpaste, soap, and soap powder. Therefore, if such companies announce a price hike, it will have a huge impact on the common man. The entire FMCG sector is increasing the prices of their products due to the rise in the prices of raw materials. Due to this, it is said that consumers may have to spend more on daily necessities in the coming months
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Sowmiya Sriram

20/12/2024 02:32 PM