Major FMCG firms, including Godrej Consumer Products (GCPL), Hindustan Unilever (HUL) and Emami, today said that they are considering to increase prices of their products to offset surging raw material prices.
While Godrej has already increased prices of its hair colour products, HUL had recently revised upwards prices of its 'Lux' and 'Liril' soap brands by up to 10 per cent.
"Vegetable oil prices have risen quite a lot over the last few months. We have raised prices of hair colour and we are looking at raising prices of soaps too because raw material costs have risen," GCPL Chairman Adi Godrej told PTI.
Besides, FMCG giant HUL said the company is looking for various options like cost effectiveness programmes and price increases to offset the high input cost.
"We are looking at all options, including cost effectiveness programs and judicious price increases. It should be noted that increase in cost of some commodities is exceptionally high," a HUL spokesperson said.
The spokesperson, however, did not specify details.
Kolkata-based Emami also said it will consider price increases in some of the products but did not specify which are the ones.
"There might be price increase in some of our products. However, as a policy, we will not go for a blanket increase across all the categories," Emami Director Aditya Agarwal said.
