FMCG major Marico has indicated that it is unlikely to reduce prices of its products including hair oil and soap brands. The company figures that the reduction in raw material prices have not offset its input costs much.
“Although there has been a slowdown in the global economy, the packaging and raw material prices have still not come down substantially. As such, it is very difficult to make any commitments regarding prices at the moment,” said Shailendra Katyal, category head (consumer products division), Marico told reporters in New Delhi during the launch of Parachute brand product, ‘Hot Oil’. The company hiked the prices of its products twice during the first half of the calendar by around 10-15 per cent.
“It is very difficult to comment at this moment when any change in prices might come and our company has not taken any decisions yet,” Katyal said.
The company is looking at the coconut oil segment for further growth and consolidation and is introducing new products.
“We have just launched another product from our Parachute brand, a ‘Hot Oil’ for hair care during the winter. We will continue to invest for both R&D and introducing new products,” he said.
— IndiaRetailing Bureau