Leading soap producers have lowered values on their goods following minor palm oil prices to challenge muted development in the sector.
Hindustan Unilever Ltd has decreased the rates of its famous soap brands– Lux and Lifebuoy – last month.
“HUL does careful and sensible price modifications across its portfolio in the regular progression of its business. Price reductions have been taken in range of 4% to 6% in Lux and Lifebuoy portfolio, while it may be higher on certain packs in order to pass on the profits to the customers.” HUL said.
Data analytics firm Nielsen, in a report, had last month said that in April-June quarter, trades of FM CG articles, containing soaps, have slowed down.
The producers of Santoor soap has also dropped the prices.
“We have also reduced prices in soaps, passing on the advantage of lower raw material prices to the buyer. We trust this will benefit the growth of consumption,” said Wipro Consumer Care President , Anil Chug.
“This quarter has observed a slowdown across all food as well as non-food categories with Salty Snacks, Biscuits, Spices, Toilet Soaps, and Packaged tea leading the slowdown,” Nielsen said.