Parle to take a price hike decision

Parle Products is planning to increase the prices of its glucose, Marie and milk biscuits by 4-5 per cent in the first quarter of 2018.

 

The company had not increased the prices of these products post the implementation of the Goods and Services Tax (GST), when the government had slapped a uniform tax rate on biscuits.

 

Primarily, glucose, milk and Marie are the categories which will see increase in prices, and the company will probably look at one category at a time for the price increase.

 

Its flagship brand ParleG, that is dominant in the glucose segment, BakeSmith English Marie and Milk Shakti are the brands that would see a price revision.

 

Low priced high nutrition biscuits that are largely priced below Rs 100 per kg is estimated to be a Rs 9,000 crore market, constituting 35 per cent of the Rs 25,000 crore organised biscuit market in the country.

 

The total biscuit industry has managed to clock a growth of around 14-15 per cent this year, with the mid-premium categories driving growth.