Biscuit price rise: Parle Biscuits may increase in price
Biscuit price rise: After the increase in the price of edible oils, there is a strong possibility of increase in the price of biscuits. Parle Products, a company that specializes in the world of biscuits, is preparing to increase the price of biscuits for the second time. Snacks and confectionery rates may increase very soon. Parle has said that very soon the rates will be increased for the second time. In the third and fourth quarter of the current financial year (2022), the price of biscuits is likely to increase by 10-20 percent.
Parle has increased by 10-15% in the last quarter of this financial year. In an interview given to ‘CNBC-TV18’, this has come to the fore from the company. The company says that due to the increase in the prices of oil, flour and sugar in the country, the prices of biscuits are being increased. The prices of biscuits are increasing due to increase in the prices of the ingredients which are used as raw material to make biscuits. Parle is going to increase rates on all ranges such as biscuits, confectionery and snacks in its next phase.
how much will the rate increase
According to the report, Parle will increase the rate of its 300 grams of Mathri (Rusk) packet by Rs 10 (Biscuit price rise). In the variety of Parle biscuits, the prices of Parle G, Crackjack etc. may increase by 5-10 per cent. The price of a packet of 400 grams of rusk can increase up to Rs. The prices of the packets which are of lesser weight will not increase because the company has reduced the weight of the packets. Products worth 10 to 30 rupees come in this category. For example, a packet of Rs 10 will remain the same but its weight will be reduced a bit.
Parle has recently announced to enter the breakfast serial market. Parle is preparing to enter the breakfast product market under the name of its well-known brand Hyde & Seek. Parle hopes that the kind of support that people have received for biscuits, snacks and confectionery, the same support will be given to breakfast products.
More recently, Parle’s senior category marketing head B Krishna Rao said, “…input prices have increased. This is leading to price escalation and we actually ensure that their price escalation does not exceed 15% in a financial year.” 15% price increase is done when the customer demand for a particular product starts decreasing.
These companies increased the prices
Companies like Marico, Hindustan Unilever and Nestle India have increased the rates of their products. This increase has been done this year. Marico manufactures products such as Saffola, Parachute, Set Weight and Livon. This company has increased the rates of Saffola by 50 percent. Similarly, Hindustan Unilever manufactures renowned products like Dove, Lux, Pairs, Hamam, Liril, Surf Excel, Wheel. This company has increased the price of Surf Excel, Rin, Lux, Wheel Detergent by 2.5 percent. Nestle India Company manufactures products like Nestle, KitKat, Manch, Barvan, Nescafe and Maggi. Prices of many products have been increased by 1-3 percent.
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