By Malvika Gurung
Investing.com -- FMCG major Hindustan Unilever (NS: HLL ) has hiked the prices of its cleaning and personal care products by 3-5% to offset the surging prices of raw materials and commodities, which have skyrocketed further amid the ongoing Russia-Ukraine war, reported Cogenics on Thursday.
The prices of the company’s detergents and soaps section have been raised, due to rising inflationary pressures on input costs and commodities, including palm oil, wheat, packaging materials and crude oil , among others.
As per sources, 1 kg of detergent Surf Excel now costs Rs 134 from Rs 130, while the 500g variant costs Rs 68 from Rs 66. The Surf Excel Quick Wash’s price for 1 kg has been raised by Rs 11 to Rs 229.
Major imports of palm oil shipments come from the Black Sea region, which has been hit since the Russian invasion of Ukraine started, over a month ago.
Due to the war, supplies of sunflower oil, palm oil and soybean oil have been disrupted, translating into higher prices of these commodities.
Palm oil is used as a key ingredient in making soaps, besides serving as a crucial material used in the non-food consumer products of HUL.
The top consumer goods company sells soap brands including Dove, Lux, Pears, and Lifebuoy, among others.
HUL had taken a price hike of almost 17% in January, cited sources to CNBC TV-18.
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