Hindustan Unilever Limited (HUL) and Nestle have announced an increase in the prices of products such as tea, coffee, milk and noodles. According to CNBC TV-18, HUL has increased the prices of brew coffee powder by 3-7 per cent on March 14. Brew Gold coffee jars have been made costlier by 3-4 per cent and Brew instant coffee pouches by 3 to 6.66 per cent. At the same time, the price of Taj Mahal tea has also been increased from 3.7 to 5.8 percent.
The prices of different variants of Brooke Bond have been increased by 1.5 to 14 per cent. HUL, while announcing the increase in the prices of its products, said that it is making its products costlier due to rising inflation.
Apart from this, Nestle India has also announced an increase in the prices of its products. Nestle India has increased the prices of Maggi noodles by 9-16 per cent. Along with this, an increase in the prices of milk and coffee powder has also been announced. After the increase in prices, now the price of 70 grams Maggi Masala Noodles has increased from Rs 12 to Rs 14. At the same time, the price of 140 grams Maggi Masala Noodles has increased by Rs 3 or 12.5 percent. Apart from this, the price of its pack of 560 grams has increased by 9.4 percent. That is, now you have to pay Rs 105 instead of Rs 96 for this.
Nestle has also increased the price of a 1 liter carton of milk by 4 per cent and now you have to pay Rs 3 and Rs 78 for it. The price of Nescafe Classic Coffee Powder has also been increased by three to seven per cent, while the price of Nescafe Classic 25 gm pack has been increased by 2.5 per cent from Rs 78 to Rs 80. Along with this, the price of Nescafe Classic has also been increased. The pack of 50 grams has also been increased by 3.4 percent from Rs 145 to Rs 150.
inflationary pressure
For Indian consumers, rising crude prices due to rise in edible oil prices and uncertain geopolitical situation will further hurt the domestic budget, which is already affected by broader inflationary trends. India’s CPI inflation data for February is due later today. India’s key inflation rate, based on the Consumer Price Index (CPI), hit a seven-month high of 6.01 per cent in January 2022 and marginally surpassed the Reserve Bank of India’s comfort zone of four to six per cent.
rising input cost
As a result, FMCG companies are passing on higher raw material and packaging costs through price hikes. Amnish Agarwal, Director, Institutional Equities at Prabhudas Lilladher, said: “Key inputs like palm oil, coffee, milk, packaging etc. have been rising and margins were under pressure in the third quarter. The recent surge in all inputs protected margins for companies. left with no option but to raise the prices.
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