Soap makers reduce prices and increase production to fight coronavirus
As India takes the fight to coronavirus, FMCG players like HUL, Godrej Consumer, and Patanjali are cutting prices of soaps and hygiene products, and ramping up production of these items.
FMCG players like HUL, Godrej Consumer, and Patanjali said they were helping fight the COVID-19 outbreak by reducing the prices of soaps and hygiene products, and ramping up production of these items.
Market leader Hindustan Unilever Ltd (HUL) on Friday committed Rs 100 crore to help combat the coronavirus pandemic.
"In public interest, HUL is reducing the prices of Lifebuoy sanitisers, Lifebuoy Liquid handwash, and Domex floor cleaners by 15 per cent. We are commencing production of these reduced-priced products immediately, and these will be available in the market in the next few weeks," HUL said.
"HUL has also ramped up the production of Lifebuoy sanitisers, Lifebuoy Handwash liquid, and Domex floor cleaners, and is committed to scaling it up even further in the coming weeks," it added.
HUL will donate two crore Lifebuoy soaps in the next few months to sections of the society that need it the most.
HUL CMD Sanjiv Mehta said, "in a crisis like this, companies have a big role to play. We are working closely with governments and our partners to ensure that we overcome this global health crisis together."
Haridwar-based Patanjali Ayurved said it had slashed prices of aloe vera and haldi-chandan soap variants by 12.5 percent.
"In the light of the common man's problem, Swami Ramdev has decided to reduce the prices... to help the common people battle against the coronavirus," Patanjali spokesperson SK Tijarawla said.
Godrej said it had decided not to pass on raw material price hikes to consumers.
"Pricing in the soaps category has seen significant deflation in 2019. However, in recent months, we have seen a 30 percent increase in raw material inputs. We were planning for a price increase to partially cover for this spike in input costs.
"However, given the spread of COVID-19, we have decided to hold off this increase, currently. It is our sincere endeavour to ensure that stocks are replenished across all channels so that our consumers can adopt better hygiene practices and stay safe," Godrej Consumer Products CEO (India & SAARC) Sunil Kataria said.
There are reports of panic buying among consumers and several online retailers like Grofers, BigBasket, and offline retailers like Walmart and Metro Cash & Carry have witnessed a spike in sales of personal care and hygiene products.
(Edited by Teja Lele Desai)