Godrej and Videocon are leading consumer durable companies that are on the look out for increasing prices of products to the offset with a high input cost by up to 3 per cent by next month.

Speaking on the same, Godrej & Boyce Manufacturing Vice President Kamal Nandi said, "We are planning to increase the prices of our products across categories, including refrigerators and washing machines, from January 1st. The price hike will be between 2-3 per cent".

He added that the company is contemplating to increase the prices due to the rising commodity prices of plastics, ferrous and non ferrous metals. He added, "Due to the rising commodity prices, there will impact on our overall cost structure. Out total input cost increases by about 5-6 per cent because of it."

Videocon is another leading domestic player which is believed to be increasing the prices of refrigerators and air conditioners by around 2 per cent. The company refused to confirm the development but said that it will look at increasing if the commodity prices continue to soar.

Videocon Chief Marketing Officer Jaideep Rathore said, "If the raw material cost continues to increase, we will have to increase the prices of products. But as of now, we have not taken any such step."

In the meanwhile other consumer durables brands like LG and Whirlpool have hiked prices by up to 4 per cent across all the categories with effect from this month. LG increased prices of its products like including refrigerators, washing machine, micro wave and television within the range of 1 to 4 percent. On the other hand, Whirlpool had raised prices of its products by 2 per cent this month.

Whirlpool India Vice President - Corporate Affairs and Strategy Shantanu Dasgupta said, "We are seeing a very high input cost. Commodity prices are going up. This is cause of concern on the overall prices of the products".

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Posted by Yogendra Oza on 8 January, 2011 11:34:06 AM IST #