The demand for Parle’s products in the rural market has begun to increase and is likely to continue to go up, Mayank Shah, senior category head, Parle Products, said on Friday.
“Rural demand has started seeing an uptick and we are hopeful about that,” he told CNBC-TV18 in an interview.
Despite concerns about wheat supply and price hikes, given the ongoing war between Russia and Ukraine, Shah said the company is covered on the inventory front for the next two to three months.
“Although we are comfortable on the stocks that we have in India, there would be demand coming in from overseas market for wheat because Russia and Ukraine supply would get affected. As a result of which we will probably, going forward, see an increase in wheat flour prices or wheat prices as well,” he said.
Shah added the company has taken already taken a price hike of 6 to 7 percent this year.
“While we have taken 6-7 percent price hike, I do not think for most companies there is any further room of absorbing the increase in raw material cost," he said.
For the entire interview, watch the accompanying video
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