ITC ,BRITANNIA to raise prices 5%-10% of their products

As food inflation continues to remain high, food companies are no longer able to absorb price rise. In an interview to CNBC-TV18 today, Chitranjan Dhar, Divisional Chief Executive, ITC Foods said that the company will increase prices across all products. "We are unable to sustain rising input prices further and are looking to hike prices by 7-8% over the next 1-2 months," he said.


ITC Foods has popular brands like Aashirvaad, Sunfeast and Bingo.

This is not the first food company to indicate a hike in prices. Last month, CNBC-TV18 had reported, quoting sources, that Britannia was likely to hike prices in the first quarter of the new fiscal.


HUL Chairman Harish Manwani also told CNBC-TV18 recently, “The outlook for commodity costs is that there will be some degree of inflation. As economic recovery picks up, it will have an impact on costs.”



India's food price index rose an annual 16.22% in the year to March 13th, lower than the previous week's reading of 16.30%.

Source - CNBC -TV18
dt- 31.03.2010