Shock: Soap prices rise 15%, companies raise prices

During the corona period, there was another blow to inflation in the general population in diminishing returns. FMCG companies have increased the price of soap by 15 percent. The companies say the increase has been made keeping in view the rising cost of palm oil.

Hindustan Unilever Limited, Wipro Consumer Care & Lighting, Godrej Consumer Products have increased soap prices. Wipro Consumer Care and Lighting, a brand of soap, said it has increased its soap prices by 8% in the last three to four months. Wipro Consumer Care and Lighting CEO Vineet Agarwal said that pop oil is an important ingredient in soap making. Palm oil prices have risen sharply. Because of this, we had to raise the price of soap. He said the increase in international freight costs increased the cost of importing palm oil from Malaysia and Indonesia. In addition, a visit to Corona has affected the production of palm oil crops in Malaysia. Because of this, the price of palm oil has increased rapidly. This has affected the cost of soap production. Agarwal said the company expects palm oil prices to stabilize as higher price increases could affect demand.

Nine years maximum of palm oil

Palm oil prices have reached a nine-year high. Despite the corona, the use of hand washing soap is high. This is a huge increase in the demand for palm oil. Demand is expected to continue this year. Because of this, the price of palm oil may go up further, which affects soap production. Companies raise prices by increasing costs.

Fear of rising further in six months

Hindustan Unilever Limited (HUL), India’s top packaged consumer goods company, has increased its selection of soap packs by 6–14% in the past six months, Jefferies analysts said in a report on March 3. At the same time, many other brands have increased by 15 to 20 percent. Companies say the next six months will be heavy. The production cost of palm oil and crude oil increases production costs.

Lifebuoy-Dove price rises
Companies have increased the price of all kinds of soaps. For example, the Lifebuoy Total (125g) price went up from Rs 22 to Rs 25. At the same time, the price of three soap paws has gone up from Rs 150 to Rs 160.

– The price of palm oil increased by 25 to 30 percent in 6 months

– India imports 90 million tonnes of palm oil

– 8% increase in Santur brand soap prices

– Hindustan Unilever grows 6 to 14 percent

– Lifebuoy Total Soap Price Rs 22 to 25 Rs

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