"Internationally, there is an acute tightness of raw materials and the currency situation is not improving a lot. So, there is pressure over the prices of some of our intermediates," he added.
According to him, the price hike is unlikely to impact demand. Meanwhile, the company aims to grow at 30% in FY14.
Also read: Amended food bill will overshoot subsidy estimates: Thomas
Below is the edited transcript of Aggarwal's interview to CNBC-TV18.
Q: You said you may be able to increase product prices soon. Can you take us through how you see the demand panning out?
A: Internationally, there is an acute tightness of raw materials and the currency situation is not improving a lot. So, there is pressure over the prices of some of our intermediates, hence we will be forced to increase the prices of our products.
So, I see an increase of roughly about 5 percent in the beginning of the season. If it goes well and the monsoon is good, then I believe there is a further chance of the prices going up during the season.
Q: Do you think you will not be met with demand resistance?
A: I see a good increase in the demand because since the last 18 months, the season is very tricky because rainfall was not quite good. And this year, the expectation is good, so we are bullish about this year.
Q: You don't see a fall in volume because of price rises?
A: No, not at all because I believe the cost of the agrochemicals to the farmer has not gone up because the domestic industry has worked very well. We are successful in keeping the cost of insecticides almost at the same level as it was 10 years back.
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