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Rising Materials Costs Force India's FMCG Companies To Raise Prices

June 21, 2012: 03:23 AM EST
The rising costs of raw materials, driven in part by the depreciation of India's rupee, have forced the country's leading fast moving consumer goods companies to raise the prices of their products, in effect, passing the burden to consumers. For example, ITC raised the prices of its Sunfeast brand of biscuits by 10–18 percent; Hindustan Unilever increased the prices of skin creams, toothpaste, and shampoos. Soap manufacturers Reckitt Benckiser and Godrej Consumer Products also raised the prices of their products by 5 percent. While a 20 percent decline in palm oil prices in the global market offers some respite for Indian consumers, price increases of up to 5 percent in consumer durable goods are looming. 
Shailaja Sharma, "FMCGs fight rupee blow with price hikes", Daily News & Analysis, June 21, 2012, © Diligent Media Corporation
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