New Delhi | Jagran Business Desk: Days after Britannia increased the prices of its biscuits close to 4 per cent citing the rise in input costs, Parle Products too has increased prices across categories. This means that the popular parle biscuits such as Parle-G, Hide and Seek and Krackjack are set to rise. Following the increase, in Parle's Biscuit segment, prices of the iconic Parle G and Krackjack biscuits are set to increase by close to 5-10 per cent.
For its Parle Rusk, the company has hiked prices by about Rs 10 for the 300-gram pack and by about Rs 4 for the 400-gram pack. However, for the lower unit packs, of about Rs 10, 20 and 30 respectively, the size will be reduced while keeping the prices same.
Why Parle-G, Krackjack, Hide and Seek costs are rising?
Parle said in a statement that the hike in the prices is due to major input cost pressures that the company has been seeing. The key raw materials for the company, that is palm oil prices, has doubled on year-on-year (YoY) basis. "We have taken a 5-10 per cent price hike," Parle Products Senior Category Head Mayank Shah told news agency PTI. “The company has increased the prices of biscuits and other products above Rs 20 and has reduced the grammage of below it to retain the attractive price points,” Mayank shah added.
Meanwhile, the packaging and laminate costs have also been up between 20 and 35 per cent. At the same time, the company is also reportedly seeing a slight shortage of material on the packaging front. Freight costs have also increased due to rise in fuel prices between 25 to 30 per cent.
"If we look at wheat and sugar, both are up by 8-10 per cent compared to last year," Shah added further to reason up with the price rise of Parle products.
Posted By: Mukul Sharma