Ukraine crisis: FMCG companies scramble to hike prices faster than planned

Crude palm oil is also at an all-time high of $1,854 per tonne

Commodity prices are at record highs as a result of the Russian invasion of Ukraine. This has put fast-moving consumer companies in a spot, forcing them rethink their price hike strategies. Consumer companies have been increasing prices since last year and had planned hikes due to high raw material costs, which will now change.

They are still monitoring the situation as prices are on an upward swing due to the crisis. But, companies may have to raise prices earlier than planned. Parle Products may hike prices depending on how rates of commodities like wheat and edible oil move. The company had