Your next pack of cookies, chocolates or ladoos could come with a higher price tag. With sugar prices staying elevated, consumer goods companies are considering price hikes to offset rising costs.
Bikaji Foods is already in the process of rolling out about a 2% price increase across its sweets portfolio, said CFO Rishabh Jain. Even though the steps taken by govt have helped in checking price rise to an extent, the cost of procuring sugar is still higher by around 20% compared to the last couple of months, Jain said. For brands with a core presence in sugar-heavy categories such as beverages, biscuits and confectionery, the quantum of hikes could be large.
