FMCG Price Hikes in India: Over the past 2-3 months, the monthly household shopping bills have risen significantly. The prices hike in the range of 2 to 17% on foods and personal care products of fast-moving consumer goods (FMCG) companies, as reported by Businessline.
Moreover, the companies have raised prices by 2 per cent to 9 per cent on soaps and body washes, 8 to 11 per cent on hair oils, and 3 to 17 per cent on select food items by companies, as per trade data and analysts reports.
The recent acceleration follows nearly a year of declining price trends due to moderating commodity prices. After increasing prices in 2022 and early 2023 to maintain margins because of high input costs, FMCG companies refrained from further hikes for most of FY24.
However, prices are now on the rise again. Although crude and palm oil prices have decreased, other commodities like milk, sugar, coffee, copra, and barley have been trending upward reportedly.
Here Are The Breakdown of Companies and Their Product Price Hikes:
Coffee prices have risen, so Nestle increased their prices by 8-13 per cent. Maggi oats noodles cost 17% more, and ITC’s Ashirvaad whole wheat is a bit more expensive.
Snack maker Bikaji plans to raise prices by 2-4 per cent in the 2025 financial year and has already started this in April. Tata Consumer Products also started raising prices to match their competitors.
The cost of Palmolive Body Wash, which is sold by Colgate, has risen by a high single-digit percentage, whereas Pears body wash has increased by a more modest 4 per cent.
Godrej Consumer Products raised prices on certain soap stock-keeping units by 4-5 per cent, Hindustan Unilever increased Dove prices by 2 per cent, and Wipro raised Santoor prices by 3 per cent, as reported by Kotak Institutional Equities and trade data.
Detergent brands under HUL, Procter and Gamble Hygiene and Health Care, and Jyothy Labs experienced price hikes ranging from 1 to 10 per cent on specific packs.
HUL raised shampoo prices across its range by a low to mid-single-digit percentage, and skin care product prices went up by up to 4 per cent.