Consumer Goods Companies Plan Affects Kitchen
- 09-May-2022
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Consumer Goods Companies Plan Affects Kitchen
NEW DELHI: Global geopolitical factors such as Russia-Ukraine war and continued rise in commodity prices - wheat, palm oil and packaging materials - have aggravated the inflationary pressures in the quarter ended March, 2022, which has led many FMCG companies to raise prices to keep their margins and profitability intact.
Household budgets have been thrown into disarray as prices of essential products have increased. This is a cause of worry for the middle-class, which is bearing the maximum brunt, as the consumer goods companies that have not taken price hikes yet are planning a raise now, and companies that have already taken hikes are looking at another hike.
Prices of household goods have increased with FMCG giants like Hindustan Unilever, Britannia, Tata Consumer Products, Dabur increasing prices of their products - range from biscuits, sugar, salt and tea/coffee to soaps, shampoos and perfumes, among others. But the worst is not over yet!
On low wheat production and palm oil concerns, Britannia said, ‘This is a year where we really have to be on our toes and take calls on a month-to-month basis.’
Britannia manufactures household names in India like Good Day, Tiger, NutriChoice, Milk Bikis and Marie Gold. Its product portfolio includes biscuits, bread, cakes, rusk, and dairy products - cheese, beverages, milk and yoghurt.
