Due to the Iran war, the price of bottled water in the country has increased by 11 percent. This is because the prices of plastic bottles and lids have increased. In this country of 140 crore people, clean water is a privilege, as researchers say 70 percent of the groundwater is contaminated. Bisleri, Coca-Cola, Reliance Industries, Pepsi and Tata are all competing for a share of the five billion dollar market. Rising oil prices are increasing the cost of polymers, a key material for the industry’s plastic bottles, putting pressure on the market.
Bisleri, the country’s largest company, which captures one-third of the bottled water market, has increased the prices by 11 percent. A box of 12 bottles of one liter water will now cost Rs 240, whereas earlier it was Rs 216. Angelo George, CEO of Bisleri, said the price of packaged drinking water has increased by Rs 20 per liter due to the huge increase in the cost of packaging material. The cost of packaging material has increased by more than 70 per cent in the last fortnight.
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Also, the current situation is beyond anyone’s control. Parle Agro has also increased the price of its Bailey bottled water brand by about 11 percent. Clear Premium Water CEO Nayan Shah said that due to these war incidents the company has increased the retail prices of bottled water by 8 to 11 percent.
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Cost of manufacturing material for bottles increased by 50 percent
Due to rising oil prices, the cost of material used in manufacturing plastic bottles has increased by 50 percent to Rs 170 per kg. The price of lids has more than doubled to Rs 0.45 per piece. Corrugated boxes, labels and adhesive tapes have also become expensive. This price hike has reversed the gains of the tax reforms done by the government in September, when the tax on bottled water was reduced from 18 per cent to 5 per cent. This encouraged many companies to reduce prices.
