Price Hike

Prices of dairy products likely to remain firm on account of higher demand

A spurt in demand for dairy products amid an almost stagnant milk output in the last one year has led to tight supply situations and elevated prices, industry experts said, and warned that rates may remain firm this summer. The Centre, along with National Dairy Development Board (NDDB), is monitoring the supply-demand gap in dairy products and will take a decision on imports depending on the situation. India is the world's largest milk producer. The output stood at 221 million tonne in 2021-22, up 6.25 per cent from 208 million tonne in the previous year. However, the production in 2022-23 is estimated to remain flat or witness slight growth. While announcing the monetary policy, RBI Governor Shaktikanta Das on Thursday said, "milk prices are also likely to remain firm going into the summer season due to tight demand-supply balance and fodder cost pressures". The RBI governor had also pointed out that consumer price inflation has increased since December 2022, driven by price press

NPPA allows drug firms to raise prices of essential medicines from April 1

Effectively the prices of 651 medicines will come down by 6.73%; WPI-linked price rise allowed this fiscal is 12.2%; about 870 formulations fall under the essential category

India mulls building LNG reserve to avoid future price hike or shortages

The government has proposed we should have more storage space for LNG so that when prices are lower we should store, and supply when there is crisis

Maruti Suzuki to hike prices from April to offset inflation impact

Maruti Suzuki India on Thursday said it will increase prices of its model range in April to partially offset the impact of "overall inflation and regulatory requirements". The auto major, however, did not share the quantum of the price hike it intends to implement from next month. The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements, the auto maker said in a regulatory filing. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added. The company has planned this price increase in April, 2023, which shall vary across models, Maruti Suzuki India stated. Already several automakers, including Honda Cars, Tata Motors and Hero MotoCorp, have announced increase in prices from April. The Indian automobile industry is currently working to make their products meet the second phase of BSVI emission norms. From

No rerating yet for diagnostic players despite price hikes as margins fall

While discounts have come down, pricing gap still large between incumbents and new players

YouTube hikes price of TV services to $72.99 due to rising content costs

Google-owned YouTube has announced that it's raising the price of its TV subscription from $64.99 per month to $72.99 per month due to rising content costs

Wheat prices fall over 10% in 7 days on selling of FCI stock in open market

FCI sold 0.92 million tonnes since Feb 1, netting around Rs 2,290 crore

Parag Milk foods hikes milk prices of Gowardhan brand by Rs 2 per litre

Parag MIlk foods follows Mother Dairy and Amul; hikes milk prices of Gowardhan brand by Rs 2 per litre

Haryana CM Khattar announces sugarcane price hike to Rs 372 per quintal

Haryana Chief Minister Manohar Lal Khattar on Wednesday announced a Rs 10 per quintal hike in sugarcane price, raising the crop's rate to Rs 372 a quintal. The new price will come into force from the current crushing season. Khattar said that safeguarding the interest of farmers is the utmost priority of the state government. "I urge the farmers that the prices have been hiked and now they should bring their sugarcane to the mills so the mills can run smoothly. Closure of sugar mills is neither in the interest of the farmers nor of the mills," he said. Crushing at sugar mills had recently come to a halt as protesting farmers had stopped supply of sugarcane by locking the main entrances of the fourteen mills in the state. The farmers had been demanding a hike in the sugarcane's state advised price from Rs 362 to Rs 450 per quintal. According to an official statement, the Chief Minister said though the current sugar price has not increased as expected, Haryana is giving high prices

Price hikes, top-end car sales drive Maruti Q3 net up 130% to Rs 2,391 cr

Favourable forex variation, softening commodity prices and higher non-operating income drive performance, consolidated revenue jumps 26.9% to Rs 29,918 crore

Oil prices climb on hopes for Federal Reserve slowing interest rate hikes

Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand

Maruti Suzuki hikes vehicle prices by 1.1% across models, 2nd rise in FY23

In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs

Gold gains on softer dollar as markets await US inflation data: Report

Gold prices rose on Thursday to near an eight-month peak, helped by a weaker dollar, as investors braced for a U.S. inflation report expected to provide clues to the Federal Reserve's rate-hike path

NMDC increases iron ore lump rates by Rs 200 to Rs 4,300 per tonne

State-owned NMDC on Monday announced that it has hiked the prices of iron ore lumps by Rs 200 to Rs 4,300 per tonne. The country's largest iron ore miner has also increased rates of iron ore fines by Rs 500 to Rs 3,410/tonne, NMDC said in a regulatory filing. The prices are effective January 1, and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said. Lump ore or high-grade iron contains 65.53 per cent Fe (iron), while fines are inferior grade ore with 64 per cent and less Fe content. In the last price revision announced on November 30, NMDC had fixed the rate of the lump at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne with immediate effect. Iron ore is one of the key raw materials used in the manufacturing of steel, and any movement in its prices has a direct impact on the rates of the steel, an alloy widely used in segments such as construction, infrastructure, automobile an

2022: When high prices ate into rural earnings more than in urban areas

War, weather and excess liquidity impacted Bharat, though year-end saw things looking up a bit

Consumer gas prices in Germany to remain high for most of 2023: Minister

To secure Germany's gas supply, liquefied natural gas terminals were being constructed to create new infrastructure for imports

IGL hikes CNG price in Delhi-NCR by 95 paise to Rs. 79.56 per kg from today

It will be the costliest in Gurugram, with a kg of CNG priced at Rs. 87.89 from today

Denmark's price of electricity surges by 83% in 12 mths as gas prices rise

According to experts, the skyrocketing electricity prices over the past year are primarily fuelled by the rising gas prices

Microsoft India hikes prices of products and services by up to 11%

The company said the Indian rupee pricelist changes to harmonise its prices for commercial on-premises software and online services between India and the Asian region, effective February 1

Maruti Suzuki to hike prices of its models from January amid cost pressure

The country's largest carmaker Maruti Suzuki India on Friday said it will increase prices of its models with effect from next month. In a regulatory filing, the company said it continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added. The company has planned the price increase in January 2023 which shall vary across models, the auto major said without disclosing the exact quantum of the increase.