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Soap Prices Cut: In this festive season, there is good news for common customers as FMCG companies have cut the price of soap. Due to the reduction in the price of soap, a daily use item, some savings will be seen in the budget of the household of the general public.
FMCG companies reduce the prices of soaps
Daily Use Goods (MFCG) companies Hindustan Unilever Ltd (HUL) and Godrej Consumer Products Ltd (GCPL) have cut prices of some soap brands by up to 15 per cent due to reduction in raw material prices.
Know how cheap Lifebuoy and Lux brand soaps have become
HUL has cut its soap range in the western region by five to 11 per cent under the Lifebuoy and Lux brands. On the other hand, Godreh group company GCPL has reduced the price of soap by 13 to 15 percent.
Godrej soaps cost so much
GCPL’s Chief Financial Officer Sameer Shah said, “Commodity prices have come down and GCPL is the first among FMCG companies to pass on the benefit of reduction in prices to consumers.” “Specially for soaps, GCPL has cut prices by 13 to 15 per cent. The price of a pack of five Godrej No. 1 soaps has been reduced from Rs 140 to Rs 120,” he said.
What HUL said
“The prices of Lifebuoy and Lux have been cut in the western region,” a HUL spokesperson said. However, he denied reports of price cuts for other brands like Surf, Rin, Wheel and Dove. Abneesh Roy, executive vice-president, Edelweiss Financial Services, said HUL’s sales in the last one year were hit due to price rise, but now the reverse is happening. Hence, sales are expected to increase.
what the experts say
Financial experts say that the cut in prices will see an increase in sales in the second half of the current financial year, especially when aggregate demand is weak due to high inflation. He said that the fall in global prices of palm oil and other raw materials is the main reason behind the reduction in prices.
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