Britannia may go for 6 percent overall price hikeDecember 17th, 2011 - 11:55 pm ICT by IANS
Kolkata, Dec 17 (IANS) Britannia Industries, India’s largest biscuits and bakery company, Saturday indicated that it may raise prices of its products due to soaring distribution and raw materials costs, but the overall price hike, if it occurs, would not be more than six percent.
“We would not like to hike prices but, if needed, the overall hike will not be more than six percent,” Britannia Industries director (health and wellness) Anuradha Narasimhan said here.
“While our staple products like Thin Arrowroot, Cream Cracker biscuits may see a price increase of 4-5 percent, prices of premium products like Bourbon, Pure Magic etc will be increased by 8-9 percent,” he said.
The confectionery major is facing increasing distribution cost due to high petrol prices and also soaring raw materials cost as prices of ingredients like palm oil, sugar, milk and nuts are spiralling.
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Tags: anuradha, bakery, biscuits, bourbon, britannia, cream cracker, distribution cost, health and wellness, industries india, narasimhan, nuts, palm oil, petrol prices, premium products, price hike, raw materials costs