FMCG products including Soaps expected to get costlier
With the price of palm oil, seeing a 40-50 percent inflation , companies like Hindustan Unilever , Emami , Colgate –Palmolive , Wipro Consumer care and ITC have increased the prices of their soap and several other products.
Palm Oil is a key ingredient for most home and personal care products. While the Oil is imported from Malaysia and Indonesia , the biggest importer is India, followed by China. Malaysia’s CPO price stood at RM4,652 per tonne on May 6 — the highest price in the palm oil industry’s history.
Unilever is one of the world’s largest buyers, purchasing about 1 million tons of palm oil, palm kernel oil and derivatives annually for use in products such as ice cream, cosmetics and soaps.
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