Hyderabad: Amidst the rising prices of several commodities, there is some good news for consumers. Several soap manufacturers across the country will slash prices up to six per cent thanks to the easing prices of palm oil and other raw materials. Last month, soap manufacturers Hindustan Unilever Ltd, Wipro, etc, reduced the prices of their popular soap brands Lux and Lifebuoy.
In a statement issued, Hindustan Unilever said, “We do selective and judicious price changes across our portfolio in the normal course of business. Given that the commodity prices are expected to remain benign for a certain time period, we have taken price reductions in a range of four per cent to six per cent in Lux, Dove and Lifebuoy portfolios, while it may be higher on certain packs in order to pass on the benefits to the consumers.”
Lux and Lifebuoy are the leading soap brands in the country. Makers of Santoor soap, Wipro Consumer Care has also slashed the prices.
Wipro Consumer Care president (India consumer care business) Anil Chugh said, “We have cut prices of our soaps, passing on the benefits of lower raw material prices to the consumer. We believe this will help increase consumption.”
Soap manufacturers suffered a slowdown in the FMCG market across the nation. Adding to this food and non-food categories also witnessing sluggish sales.