11/08/2011 (MoneyControl.com) - FMCG major Hindustan Unilever (HUL) today said it has increased the prices of one of its soap brands by up to 6% due to high raw material cost.      

The company has recently hiked the prices of 80 gm 'Pears' soap from Rs 29 to Rs 30, while for 125gm from Rs 44 to Rs 47.     

Confirming the development an HUL spokesperson told PTI: "There has been a steep increase in input prices. We are looking at all options, including cost effectiveness programmes and judicious price increases".     

It should be noted that increase in cost of some commodities is exceptionally high, the person added.     

Sharp increases in key ingredients such as palm oil and crude oil has hit personal care product makers in recent months.     

However, other FMCG firms like ITC , Marico and GCPL have ruled out any price increases at present but said that they will cut down on other expenses like advertising costs.     

"There will be impact on our advertising spend. We have to cut down on the other expenses in order to meet the challenge (input costs pressure)," Marico Chairman and Managing Director Harsh Mariwal had said.