To neutralise the increased input cost built over the last few months, FMCG major Marico, is planning to increase the prices of its flagship hair oil brand ‘Parachute’ and edible oil brand ‘Saffola’. Saugata Gupta, CEO, Marico, told PTI that the company is in the of process of getting into effect a price hike for the larger packs of Parachute and some stock keeping units (SKU’S) of Saffola to align the upsurge in the rising input cost. Entry level/recruiter packs will not see any price change in line with the brand’s strategy of driving growth, but talks are in progress to review prices of other Marico brands as well. The company has not disclosed the percentage of increase it is looking at. Currently, ‘Parachute’ is available in the market across various variants within the price range of Rs10 to Rs 90, while ‘Saffola’ is sold within the range of Rs68 to Rs700 across different pack sizes.
Source: economictimes.indiatimes.com
