The company will increase soap prices by around 5%, Wipro Consumer Care and Lighting President Vineet Agrawal said. He said he did not expect Wipro consumers to opt for cheaper brands after the price increase. Wipro Consumer's sales rose 19% in the quarter ended March despite a 5% increase in soap prices during January-February .
Sharp increases in key ingredients such as palm oil and crude oil hit personal care product makers in recent months. "Palm oil prices are still at an all-time high... but I am not expecting a further hike in prices unless crude goes awry," Agrawal said.There was a 10-15% correction in prices in mid-March.
