There will be no more price increases on the raw material front, a decrease is expected
Raw material costs have hit their peak and prices are set to soften, according to the latest forecasts, bringing welcome relief to ailing consumer goods manufacturers, according to a report published by the Hellenic Shipping News.
Nestle India has predicted a drop in edible oil and packaging material prices whole Hindustan Unilever has forecast improved margins in the latter half of the year. The price of palm oil has already dropped 32 percent from the record high achieved in March, while crude oil has had US$20 shaved off the cost of a barrel.
Aditi Nayar, ICRA Economist, told Hellenic Shipping News, “Commodity prices are already starting to recede, given US Fed rate hikes. Given that, there should be a gradual fall in input costs for commodities.”
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