Maggi getting costlier; Tropicana, Real, Pepsi raising prices of popular food and beverages
Prices of certain FMCG brand products have been increased including Maggi, Boost, Pepsi, Cadbury Silk etc, per a Kotak report.
Nestle is slated to increase prices of its two noodle variants- Maggi Oats and Atta noodles.
Maggi is set to get costlier as Nestle is understood to have increased the prices of two variants of its best selling noodles brand, and is soon to roll out revised prices in the consumer market. Nestle has raised the prices of its Atta Noodles and Oats Noodles variants by 3-4%, Kotak Institutional Equities said in a research report.
The company is soon expected to roll out new packets with revised prices, and may have even launched the same in certain markets, Aniket Sethi, a co-author of the report, told Financial Express Online, in response to a question that since when the revised prices were effective.
“Nestle India has the resilience and strong internal efficiencies in place to cope with changes in input costs. We do however regularly review changes in input costs and decide on the further course depending on how it impacts, while ensuring that we sustain the value proposition we offer to our consumers,” a Nestle India spokesperson said responding to a query by Financial Express Online.
Currently, Maggi Oats noodles retail at Rs 25 per packet for 75 gms and Atta noodles for Rs 20.
Along with this, prices of certain packaged fruit juice brands such as Tropicana, PaperBoat, and Real Active have also been hiked. “We observed price increases in juices — Tropicana has increased prices by 4-11%, Paperboat has increased prices by 11% and Dabur has increased the price by 8% for Real Activ variant of orange juice; no price increase from ITC as yet,” Kotak report said.
Global beverage giant Pepsi has also revised its prices by 6% for its 2.25 litres bottle. Other commodities with revised prices are GSK-CH’s Boost by 3%, Kraft’s Complan by 4% and Danone’s Protinex by 3%. We note that this follows price increases of 1-5% made by GSK-CH on Horlicks variants last month.
Previously, Nestle India’s quarterly results were out and so was the verdict on the popularity of its brands such as Maggi and KitKat. Maggi, along with the company’s other popular products — KitKat and Munch chocolates drove Nestle India’s success this year as well.
“Brands like Maggi, Nescafe, KitKat, Munch and Everyday continued to deliver strong performances,” Suresh Narayanan, chairman and managing director, Nestle India had said in a statement.