News: FMCG companies may hike prices of their products

C-Suite

FMCG companies may hike prices of their products

Here is another cause of worry for the common man, fast moving consumer goods (FMCG) firms are considering a rise in prices of their products to battle the mounting key costs incurred. This news comes at a time when the country’s inflation and food prices are hitting new heights. The products which are affected the most are soaps, shampoos and hair care products due to the cost of vegetable oil which has seen considerable increase in the last couple of months.

Here is another cause of worry for the common man, fast moving consumer goods (FMCG) firms are considering a rise in prices of their products to battle the mounting key costs incurred. This news comes at a time when the country’s inflation and food prices are hitting new heights. The products which are affected the most are soaps, shampoos and hair care products due to the cost of vegetable oil which has seen considerable increase in the last couple of months.
With the costs of fruits and vegetables soaring, packaged foods will also be included in this new price category. Also worth mentioning is the increased packaging cost which will add to the existing concern.
Market sources also reveal that FMCG firms have seen augmented expenditure on the consumption of raw materials in the last quarter of December 2010 by approximately 25-30%. The companies have been left no choice but to reduce the brunt using cost effective techniques.
 

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Topics: C-Suite, #Updates

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