Indian consumers will have to shed a few bucks extra to buy detergents and soaps as the Fast-Moving Consumer Goods (FMCG) giant, Hindustan Unilever Limited (HUL), has hiked the prices of its products in the laundry and body-cleansing categories.
In the detergent category, HUL has hiked the price of Wheel detergent for both the one kilogram and 500-gram packs. The increase is estimated to be around 3.5 percent, which will reflect a jump of 1-2 rupees in both packets. As a result, while the 500-gram packet will now cost Rs 29, compared to the earlier price of Rs 28, the one kilogram will cost consumers Rs 58, as compared to the earlier Rs 56-57.
A similar hike is seen in the company’s Rin detergent powder. Consumers will now have to pay Rs 82, compared to the earlier Rs 77 for the one-kilogram packet. The company has also reduced grammage for the smaller packs. For example, the Rs 10 pack of Rin detergent used to weigh 150 grams, which is now reduced to 130 grams. The overall hike for Rin is estimated to be around 6-8 percent. The high-end HUL products like Surf Excel have seen the steepest rise, with the price hiking by Rs 14 for the one-kilogram packet.
The price hike has also affected soap bars like Lux and Lifebuoy, mainly the combo packs. Both the soaps have seen a rise of almost 8-12 percent. For example, a 100 gram, 5-in-1 pack of Lux, which earlier cost Rs 120, will now cost Rs 128-130. The grammage reduction for the small packs is also seen in the body-cleansing category.
The price hike has been a constant phenomenon for HUL and is seen in various categories of products ranging from tea to detergents. The price hike comes in the wake of high inflationary pressure that the company is facing in its key-input materials, with some raw materials being priced at a whopping 20-year-high.
As of Tuesday, the FMCG giant registered subtle gains when the stock prices of HUL rose to a high of Rs 2,808 on the Bombay Stock Exchange, extending gains for two days straight. The rise in the stocks helped the company take their market evaluation above the Rs 6.5 lakh crore mark for the first time. The company traded at a gain of 0.43 per cent at Rs. 2791.50 on the market, according to CNBC reports.
Read all the Latest News, Breaking News and Assembly Elections Live Updates here.
Comments
0 comment