Asian Paints raises prices by 12% due to raw material costs

Gold slides as U.S.-Iran conflict lifts oil, hawkish Fed bets grow Investing.com -- Asian Paints has raised prices by approximately 12% to address rising raw material costs linked to the Middle East conflict, the company said on Monday. The increase represents the steepest hike in India’s paint industry. The country’s largest paint-maker by market share said the situation in West Asia remains uncertain, and input costs could take time to stabilize.

"The recent escalation in West Asia has created significant inflationary pressures in raw materials, particularly through crude oil-linked inputs," Chairman R. Seshasayee said in an annual report. Other Indian paint manufacturers have also raised prices this year. Berger Paints India increased its prices between 1% and 2%, while Kansai Nerolac Paints raised prices by 2-3% and JSW Dulux by 10%.

Indian paint makers have adjusted prices to offset higher crude-linked raw material costs. Volatility in petrochemical supplies due to tensions in the Middle East has affected production and margins.

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