New Delhi, June 18. Fast Moving Consumer Goods (FMCG) companies have warned that if the conflict intensifies, everyday items could become more expensive.
According to reports, industry officials say that if the energy supply chain in West Asia is affected, there could be a significant increase in input and packaging costs. Petroleum products are used in 20-25 percent of raw materials for food items and 40 percent in paints. They are directly used in detergents, paints, and packaging.
The ongoing war between Iran and Israel has caused an increase in crude oil prices. What was three years ago at its lowest level has now risen to 75 dollars per barrel, which is 15 percent more than last month. The rise in crude oil prices will affect not only the prices of gasoline and diesel but also impact the
