Parle Products to Hike Prices, Reduce Pack Sizes from January
Parle Products to Hike Prices, Reduce Pack Sizes from January
Parle Products, a leading FMCG company, will raise prices by 5% across its product range from January 2025. The hike will affect bread, biscuits, rusk, cakes, and snacks.
In addition to the price hike, the company plans to reduce the weight of its entry-level and low-price packs. Popular items like Parle-G ₹5 and ₹10 packs will see a reduction in grammage by 5%-10%. Other entry-level biscuits will also face similar changes.
The move is driven by rising raw material costs. Prices of wheat flour, sugar, and cocoa have surged significantly. A sharp 45% increase in palm oil costs, further aggravated by higher import duties, has added to the pressure.
This isn’t the first time Parle has adjusted prices. In 2021, it hiked prices of products like Parle-G, Hide & Seek, and KrackJack by 5%-10%. Back then, price increases were also linked to higher costs of sugar, wheat, and edible oils. The price of Parle-G biscuits rose by 6%-7%, affecting packs priced above ₹20.
The FMCG industry is under strain due to inflationary pressures. Britannia, another major player, recently announced price hikes across several categories and plans further increases of 4%-5% in the coming months.
With prices of everyday essentials rising, consumers may feel the pinch as companies pass on escalating input costs. For now, both Parle and the FMCG sector brace for a challenging period ahead.
