After a gap of over 14 years, the price of matchboxes is likely to be doubled from Re 1 to Rs 2 from December 1.
The increase in the cost of raw materials has pushed industry bodies to revise the prices. Representatives of five major matchbox industries met at Sivakasi and decided on the price revision, according to a report in The Times of India.
According to the report, the manufacturers noted that cost and prices of 14 raw materials used in the making of matchboxes had gone up. Red phosphorus is now Rs 810 instead of Rs 425, and wax was priced at Rs 80 instead of Rs 58.
The hike in fuel prices has also pushed the cost of transportation forcing the manufacturers to raise rates.
“We have decided to increase the selling price from our units by 60 per cent to Rs 430-480 per bundle. This is excluding 12% GST and cost of transportation (sic),” Secretary of the National Small Matchbox Manufacturers’ Association VS Sethurathinam told TOI.
The last time prices of matchboxes was revised was in 2007 from 50 paise to Re 1.
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Published 24 October 2021, 09:52 IST