INDIA: Nestle India may hike prices 15%
Nestle India has said it may be forced to increase prices for dairy and nutrition products by up to 15%, according to local reports. Inflationary pressures are understood to be the reason behind the possible price hike.
"We may increase prices by between 5% and 15% for different products because of escalation in raw material costs and inflation, etc, depending on the situation," Mayank Trivedi, Nestle India general manager, was quoted as saying by the Press Trust of India.
Nestle India, which has seven plants, and manufactures milk, nutritional products, chocolate, confectionary and beverages, raised its prices by 11% in 2007 in a bid to counter higher output costs, while reducing the weight of some products by up to 12%.
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