As the festive season takes centre stage, the much-loved laddoos enriched with ghee, spongy rasgullas, besan burfis, and other delectable mithais are poised to maintain their affordability, even in the face of escalating prices for essential kitchen staples. Leading players in the sweets and namkeen market, including Bikanerwala, Bikaji Foods, and Haldiram’s, have reassured consumers that the cost of these traditional delights is unlikely to put a strain on their pockets.
Manoj Verma, the Chief Operating Officer at Bikaji Foods International, shared insights, predicting that this year’s prices will likely align with those of the previous year, with minimal increases. He emphasized that although food inflation has surged overall, certain key ingredients integral to crafting traditional Indian sweets have witnessed a decline in prices compared to a year ago. This favourable trend is expected to contribute to price stability.
While the cost of dry fruits has risen by approximately 10–12% from the previous year, the price of palm oil, a crucial element for deep frying during the festivities, has actually decreased, offering an advantage to both sweet manufacturers and consumers. Another pivotal ingredient, milk, has maintained a steady price in the wholesale market, rendering essential dairy components like mawa, chena, and ghee accessible and budget-friendly.
Sugar prices have also experienced only a marginal increase. As of August 29, the wholesale price of sugar had risen by 3.63% compared to the previous year, according to data from the Ministry of Consumer Affairs.
So mithai producers are poised to absorb any minor uptick in their production costs, thereby providing consumers with a welcome respite during the bustling festival season. This period, which commenced with Onam and Rakshabandhan in August, will continue through December with Christmas festivities. Pankaj Agarwal, the Chief Operating Officer at Group Bikano, Bikanervala Foods, affirmed the industry’s dedication to the consumer experience, affirming a commitment to refrain from implementing price hikes this year despite challenges within the sector.