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retail | IST

HUL, P&G, Jyothy Labs set to raise detergent prices to offset raw material costs

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Consumer products makers Hindustan Unilever, Proctor & Gamble and Jyothy Laboratories are likely to raise prices of detergents by 3 to 5 percent owing to high raw material costs, according to industry sources.

Consumer products makers Hindustan Unilever, Proctor & Gamble and Jyothy Laboratories are likely to raise prices of detergents by 3 to 5 percent owing to high raw material costs, according to industry sources.
Hindustan Unilever Ltd (HUL), India’s largest household goods maker, is looking to hike prices of its detergent powder across brands such as Surf Excel, Rin and Wheel by 2-6 percent.
Some of the products with revised maximum retail prices (MRP) have already started trickling into the market, as per the checks done by CNBC-TV18.
US-based Proctor and Gamble (P&G), which sells popular detergent brand Tide, is expected to hike prices in the range of 3-5 percent across stores while Jyothy Laboratories, the maker of detergent and fabric care brands like Mr White, Henko and Ujala, is set to take a weighted average price hike of 5 percent going forward, said sources.
The companies will start selling products with revised pricing from early October.
HUL and P&G declined to comment on the story while Jyothy Laboratories confirmed that select price hikes will be taken across its detergent portfolio.
Rohit Surfactants Private Limited (RSPL), the maker of Ghari detergent powder, told CNBC-TV18 that they haven't yet decided on increasing prices.
HUL, RSPL and P&G hold a majority of the market share so any change in pricing is likely to be followed by smaller players.
The detergent makers are blaming rising raw material costs, which includes crude prices and the weak rupee, as key reasons for raising prices, according to sources.
Brent crude prices have risen by almost 10 percent over the past two weeks and are trading near $77 a barrel.
Companies in the fast-moving consumer goods space are looking to offset rising oil prices and sliding rupee through price hikes as they had cut prices of many products after the introduction of the goods and services tax in July.