Nestle India considering price hikes to counter commodity inflation, executive says
Nestle India will consider raising prices of its products by a small margin to counter inflation in coffee, cocoa and edible oil while aiming to keep sales coming in, a top executive said on Monday.
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Profits at Corporate India came under pressure in the October-December quarter due to the double whammy of consumers cutting back due to inflation in large cities and high prices of commodities.
«Wherever (price increase) is absolutely essential, we will have to take some pricing action,» Nestle India Managing Director Suresh Narayanan told Reuters at the sidelines of an industry conference in Mumbai.
The company, which makes the Nescafe brand of instant coffee, will keep the price hikes «as low as possible,» Narayanan said, adding that «price increases are not the salvation for the industry because it impacts volume growth.»
India's plan to cut personal income tax rates in fiscal 2026, unveiled earlier this month, is expected to put more disposable income in the hands of the people and eventually boost consumption.
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