Parle Products hikes biscuit prices by 5-10 pc as input cost sours | Biscuit was hit by inflation, Parle increased the price by 5 to 10 percent

Biscuit was hit by inflation, Parle increased the price by 5 to 10 percent

Highlights

  • The company increased the price of biscuits worth Rs 20 or more
  • Parle G, Hide and Seek and Crackjack Biscuit become costlier
  • Parle G is now 6-7 percent costlier

New Delhi. Food major Parle Products has increased prices by five to 10 per cent across all categories of its products in view of the increase in cost of production. Giving this information on Tuesday, a company official said that this step has been taken due to increase in the prices of raw materials like sugar, wheat and edible oil. Parle’s products in the biscuit segment include popular brands like Parle G, Hide & Seek and Crackjack.

The company has increased the prices by 5-10 per cent and 7-8 per cent respectively in the rusk and cake segments. Its most popular Glucose Biscuit Parle G has now become 6-7 percent costlier.

Mayank Shah, senior category head, Parle Products, said, “We have increased prices by 5-10 per cent.” At the same time, to keep the prices at an attractive level, the ‘gram’ of the packet has been cut.

Mondelez’s profit quadrupled

Leading confectionery company Mondelez India Foods Pvt Ltd’s net profit quadrupled to Rs 1,001.34 crore in the pandemic-hit financial year 2020-21. The company’s operating income grew over 11 per cent to Rs 7,974.61 crore during the financial year. This information has been obtained from regulatory documents. Mondelez India Foods owns brands like Cadbury Dairy Milk and Bournvita. In the financial year 2019-20, the company’s net profit was Rs 251.96 crore and income was Rs 7,167.88 crore. Mondelez India Foods’ total income also grew 10.44 per cent to Rs 8,038.10 crore in the financial year ended March, 2021 from Rs 7,278.40 crore in the previous fiscal.

!function (f, b, e, v, n, t, s) {
if (f.fbq)
return;
n = f.fbq = function () {
n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);
};
if (!f._fbq)
f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
}(window, document, ‘script’, ‘//connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1684841475119151’);
fbq(‘track’, “PageView”); .

Leave a Comment

Your email address will not be published. Required fields are marked *