Parle Products has increased prices by 5 to 10% across categories as input costs have risen significantly due to price increases in raw materials such as sugar, wheat, and edible oil.In the biscuit segment, Parle, which owns popular brands such as Parle G, Hide & Seek, and KrackJack, has increased the prices by 5–10 per cent and 7-8 per cent in the rusk and cake segments, respectively. The price of its most popular glucose biscuit, Parle G, is now up by 6-7 percent.
Parle Products Senior Category, Head Mayank Shah, “We have taken a 5–10 per cent price hike. The company has increased the prices of biscuits and other products above Rs 20 and has reduced the grammage below it to retain the attractive price points. This is the first hike by Parle in this fiscal year.
Earlier, in the January-March 2021 quarter, the company had also gone for a price hike. This is after considering the inflationary pressure on the input costs that we are facing. Most companies are facing it, “he said.
The company is facing inflationary pressure as prices of input materials such as edible oil have gone up by 50-60 percent compared to last year, he said.
Earlier this month, Britannia said it was observing “unprecedented inflation” in the market prices of palm oil, industrial fuel, and packaging materials and had also initiated necessary price increases across the portfolio.
Several FMCG companies operating in the food space are facing the inflationary trend in commodity prices along with increased transportation changes due to an increase in fossil fuel prices.
Most of them have revised the prices by passing most of it on to the consumers to retain the margin levels.