New Delhi: Parle Products, one of the leading fast-moving consumer goods (FMCG) companies in India, may hike the prices of its product range by 5 percent from January 2025, as per a news media report.
A CNBCTV18 report has said that the price hike will be applicable to Parle’s wide range of product portfolio including bread, biscuits, rusk, cake products, and snacks.
Along with price hike, the FMCG major is contemplating to reduce the weight of its ‘entry-level and low-unit price packs’, reported CNBCTV18. Parle’s might reduce the weight (in grammage) of its flagship Parle-G biscuit by 5-10 percent. The weight reduction will be applicable in similar entry level biscuits too, CNBCTV18 said.
The news media said the manufactures are impacted by burgeoning cost of raw material and sharp rise in the import duty on palm oil, thus necessitating a price rise in its products.
Parle had in 2021 announced a hike in the prices of its popular products such as Parle G, Hide & Seek and KrackJack in the range of 5 to 10 per cent. The major reason behind the increase in the prices is due to a substantial rise in the price of prices of raw materials, such as sugar, wheat and edible oil.
Besides biscuits, the company had also increased the prices by 7-8 percent in the rusk and cake segments. The price of popular glucose biscuit Parle G was pushed up by 6-7 percent. However, the increase in the prices of biscuits will only reflected in packs above Rs 20.
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