Local food manufacturers plan 10pc hike in prices

KARACHI:(HRNW) Food manufacturers plan to pass-on the rising cost to the consumers to sustain the margins, which would translate into a 10 per cent price hike in FY22.

AKD Securities Ltd organised a Pakistan listed food manufacturing conference, which was attended by leading local food manufacturers.

The companies attending the event said they need to pass-on the costs to the consumers to sustain the margins in the long-term. In the past, the local food manufacturers have raised their prices in line with the food inflation and expect to increase their prices by 8 per cent to 10 per cent in FY22 owing to the rising costs.

The companies reported that the local unregistered companies and their manufacturing of unregulated products were denting the sales of registered companies. These goods are in high demand due to the rising prices of regulated products produced by the registered companies.