Bikanervala Foods Ltd. has announced that it will not increase the price of its sweets despite a recent surge in milk prices. The company has decided to absorb the cost increase from major suppliers Amul and Mother Dairy, who have raised their liquid milk prices by Rs. 2 per litre starting Monday.
Manish Aggarwal, director of Bikanervala Foods, acknowledged the potential impact on consumers and small sweet shop owners. “The recent surge in milk prices is likely to have an impact on consumers and small sweet shop owners, leading to higher prices for milk-related products. However, it’s important to note that the demand for ‘mithai’ and other milk-based products may not be significantly affected by these rising costs,” he said.
Aggarwal emphasized that Bikanervala Foods is committed to maintaining current sweet prices for now, aiming to balance consumer price sensitivity with market dynamics. “We are absorbing the increased cost of milk and have no immediate plans to pass it on to our consumers,” he added.
The company is closely monitoring the situation and may reconsider its pricing strategy if milk prices continue to rise. “While we aim to maintain a steady volume momentum, if this scenario persists, we may need to consider adjusting the prices of our products in the future,” Aggarwal noted.
As one of the leading players in the sweets and snacks market, Bikanervala Foods’ decision reflects its commitment to customer satisfaction and market stability amidst fluctuating supply costs.