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Costly wheat in domestic, international markets to push up biscuit prices


Costly wheat in domestic, international markets to push up biscuit prices
In the past month, wheat prices have increased 6.3% as production is expected to be 1.5% lower, in terms of crop acreage, than the earlier estimate
Rajesh Bhayani Avishek Rakshit & TE Narasimhan  |  Mumbai/Kolkata/Chennai 
Last Updated at August 9, 2018 05:40 IST








The burden of wheat price rise is likely to pinch the smaller players more, given that they do not have the brand loyalty that the larger companies enjoy

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The biscuit with your tea could soon be more costly, thanks to a sharp rise in wheat prices, both in the domestic and international markets.
Britannia, which makes both bread and biscuits, and Parle are considering price hikes for their products, as is ITC that sells biscuits, along with Aashirvaad atta. Smaller manufactures are also likely follow suit. In the past month, wheat prices have increased 6.3 per cent. The reason: production is expected to be 1.5 per cent lower, in terms of crop acreage, than the earlier estimate.
The government has this year procured more than targeted wheat, in a bid to ensure food security. This has resulted in lower stock in the open market.
Varun Berry, managing director, Britannia Industries, said, “We will need a price increase. We have ensured adequate wheat supply but at some stage this struggle is going to end. It’s probably going to be a 3-4 per cent price increase, starting in the fourth quarter of 2018-19.”

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