24/10/2011 (Economic Times) - Godrej Consumer Products plans to raise soap prices by about 10 percent in the remaining months of the current fiscal on costly palm oil, its Chairman said on Friday.

"Palmoil prices have come-off slightly but it still isn't enough and still there is a significant pressure on margins," Adi Godrej, told Reuters.

The company's joint venture with U.S.-candy maker Hershey was "very much on" he said, adding new products would be launched going forward.

In July, the Economic Times newspaper had reported the company and Hershey's have called off their joint venture and Hershey's will sell its 51 percent stake to Godrej Consumer for an undisclosed amount.