Hyderabad: Matchbox prices are all set to rise up to Rs 2 from Rs 1 after 14 years as the rising inflation has reportedly increased the prices of the raw materials. The retail price of matchboxes will be doubled starting from December 1, 2021. The last hike in matchbox had come in 2007 when the rate of a single box was increased from Rs 50 paise to Rs 1.
According to EconomyIndia.in, the latest decision to increase the matchbox prices to Rs 2 has been taken together by all matchbox companies.
The decision to increase the rate of matches has come after 14 years, All India Chamber of Matches announced. Further, the company said that the committee members also pointed out that the decision has been taken after taking into consideration the rising inflation.
14 different types of raw materials are required to make a matchbox, according to matchbox manufacturers. The prices of many such materials have reportedly more than doubled in the past 14 years, leading to an increase in matchbox manufacturing costs.
The price of Red Phosphorus has increased from Rs 425 to Rs 810 while wax rates have increased from Rs 58 to Rs 80 and the cost of the Outer Box Board has increased from Rs 36 to Rs 55 and the inner box board’s rate has increased from Rs 32 to Rs 58.
Zee News reported that the company said that the prices of other materials such as paper, splint, potassium chlorate, and sulfur, among others, which are required to make a matchbox, have also increased in October 2021.