Parle hikes biscuit prices by 5-10 pc as input cost rises

Parle hikes biscuit prices by 5-10 pc as input cost rises

Parle G biscuit price hike: The leading food company Parle Products has increased the prices of its biscuit by 5-10 percent across categories as the input cost has increased following the rise in prices of raw materials that include sugar, wheat, and edible oil.

In the biscuit segment, Parle has increased the prices of Parle G, Hide & Seek, and KrackJack by 5-10 percent and 7-8 percent in the rusk and cake segments, respectively.

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The price of its most popular biscuit Parle G has now been hiked by 6-7 percent.

“We have taken a 5-10 percent price hike,” Parle Products Senior Category Head Mayank Shah said.

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The company has raised the prices of biscuits and other products above Rs 20 and likewise, reduced the grammage of below it to retain the attractive price points, he added.

It is pertinent to mention that this is the first hike by Parle in this fiscal. Earlier, in January-March 2021 quarter, the company had hiked prices.

The development comes after considering the inflationary pressure on the input cost that the company has been facing. Most of the companies are facing it,” Shah said.

To cope with GST rate hike, Parle G will eat into your biscuit pack

The company is witnessing inflationary pressure as the rates of input materials such as edible oil have gone up by 50-60 percent as compared to the last year. Wheat and sugar are also up by 8-10 percent as compared to last year.

Earlier this month, Britannia Industries had stated that it was witnessing “unprecedented inflation” in market prices of palm oil, industrial fuel and packaging materials. Likewise, it initiated necessary price increases across the portfolio.

-PTC News