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Ice cream prices to rise ahead of summer

JessicaJessee 2018-02-10 17:53:15

Major players in the ice cream industry like Vadilal and Creambell are likely to increase prices of their products before the summer. The Rs. 8,000 crore organised industry attributes this price rise to hike in the cost of dry fruits, its overhead costs and increase in fuel prices.

Amul has denied increasing prices of its products, while Mother Dairy is still analyzing the situation.

In spite of the rising prices, the industry is hopeful of annual sales to soar between 15-20 percent, with growth scope from towns and cities with the population under five lakhs.

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In a report in The Economic Times, Nitin Arora, CEO, Creambell, is quoted as saying: "In the past six months, diesel prices have increased by 23 percent, salary and wages by 10 percent and packaging material by 8-10 percent, thereby ensuring a price hike in ice creams."

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He added that the majors of the industry are trying to keep the hike under 5 percent in 2018.

Many people have come to feel that prices for certain products have become sacred over the years, not something that can be changed. For example, an orange bar costs Rs. 5 and an ice cream cone is Rs. 20.

「We can't raise the price from Rs 20 to Rs 22, so if it has to be rounded up it will be 25. Now that raise will be too much, so we try to absorb it most of the time and pass it over the years," Arora explained.

Rajesh Gandhi, managing director of the Gujarat-based Vadilal Group, told the newspaper that the company has hiked the prices by 2-5 percent mainly cones and candied, with no compromise on the quality in the product and its packaging at all.

"Dry fruit prices have seen a hike apart from the increase in fuel and other overhead costs. Also, last year we didn't pass on the higher price of dairy products such as milk powder and butter, as it happened after we made the revision in February, so this year the raise has happened," he added.

本文來源:http://www.moneycontrol.com/news/business/ice-cream-prices-to-rise-ahead-of-summer-2504159.html

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