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Godrej Consumer to hike soap prices by 10% by March 2013

Godrej Consumer to hike soap prices by 10% by March 2013
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First Published: Fri, Oct 21 2011. 03 31 PM IST

Godrej Group chairman Adi Godrej.
Godrej Group chairman Adi Godrej.
Updated: Fri, Oct 21 2011. 03 31 PM IST
Mumbai: Godrej Consumer Products plans to raise soap prices by about 10% in the remaining months of the current fiscal on costly palm oil, its chairman said on Friday.
Godrej Group chairman Adi Godrej.
“Palm oil prices have come-off slightly but it still isn’t enough and still there is a significant pressure on margins,” Adi Godrej told Reuters.
The company’s joint venture with US-candy maker Hershey was “very much on” he said, adding new products would be launched going forward.
In July, the Economic Times newspaper had reported the company and Hershey’s have called off their joint venture and Hershey’s will sell its 51% stake to Godrej Consumer for an undisclosed amount.
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First Published: Fri, Oct 21 2011. 03 31 PM IST
More Topics: Adi Godrej | GCPL | Soap | Palm Oil | Prices |