In a bid to offset high input costs, FMCG giant Hindustan Unilever today said it has hiked the price of its Lifebuoy soap by over 6 per cent, while reducing the pack size of popular soap brand Lux.
The company confirmed that the price of its 120 gm Lifebuoy soap has been hiked to Rs 16 from Rs 15.
Besides, it has also stopped the promotional offer for its Lux soap, under which a 110 gm soap was sold for Rs 18 earlier. Now HUL is selling Lux at Rs 18 for a 100gm bar.
Industry analysts attributed the price change to the rising commodity prices.
"Though inflation is in single digit now, it is still a concern...Besides, palm oil prices have not come down and cost of packaging is high," an analyst with Anand Rathi Financial services said.
As per data available the price of crude palm, oil a key ingredient for making soap, has touched Rs 433 per kg in August as compared to Rs 391 per kg in June, up 11 per cent.
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