You have been paying more for detergents, soaps over the last three months
- Hindustan Unilever continued to increase the price of detergents and soaps in the last three months.
- This was due to rising input/raw material costs like fuel and palm oil, which is eating into the company’s profits.
- Nestle India, Colgate Palmolive, Emami have taken up such pricing practices over the last two years.
AdvertisementRising cost of raw materials has been a pain point for all fast moving consumer goods (FMCG) companies in India. The price of palm oil, fuel and other commodities have increased over the last two years as the world suffers from COVID-19, and this has left retailers with no option, but to increase the price of their products.
Hindustan Unilever (HUL) — one of the largest FMCG companies in the country and the world — once again increased the price of its detergents and household care items in the December quarter of financial year 2022.
Moves like this have helped the company maintain its profit margins over the last seven quarters and increase its net profits too. The company, in the December quarter, reported a consolidated profit of ₹2,297. This is nearly ₹300 crore higher than the same quarter last year.
“Significant input cost inflation across fabric wash and household care; calibrated pricing actions continue,” the company added. A report by Edelweiss Securities noted that Hindustan Unilever has increased the price of detergents and soaps by 3-20%.
Source: Retailers, Media Reports
|Product||Old Price||New Price|
|Wheel detergent powder (1 kg)||₹58||₹62|
|Wheel detergent powder (500 g)||₹28||₹31|
|Rin Bar (250 g)||₹16||₹19|
|Rin Bar (Bundle pack of four)||₹72||₹76|
|Surf Excel’s bar||₹10||₹12|
|LifeBuoy (125 g)||₹29||₹31|
|Pears Soap (125 g)||₹76||₹83|
|Lux (100 g)||₹21||₹25|
Even companies like Nestle India, Colgate Palmolive, Emami, Tata Consumer Products, Wipro Consumer Care have taken up such pricing practices over the last two years to overcome the inflation troubles.
Nestle India — maker of Kit Kat, Munch, BarOne, Nescafe and Maggie — has also increased the cost of products by 1-3%. Meanwhile, Marico has increased the price of Saffola refined oil by 50%.
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