New Delhi: Matchbox prices are all set to rise after 14 years, as the rising inflation increased the prices of the raw materials. With the upcoming revision, the retail price of matchboxes will be doubled to Rs 2 from the current price of Rs 1 starting from December 1, 2021.
The last hike in matchbox prices had come in 2007 when the rate of a single box was increased from 50 paise to Rs 1. The latest decision to increase the matchbox prices to Rs 2 has been taken together by all matchbox making companies.
The All India Chamber of Matches announced that the decision to increase the rate of matches has come after 14 years. The committee members also pointed out that the decision has been taken after taking into consideration the rising inflation.
According to matchbox manufacturers, 14 different types of raw materials are required to make a matchbox. The prices of many such materials have more than doubled in the past 14 years, leading to an increase in matchbox manufacturing costs.
For instance, the price of Red Phosphorus has increased from Rs 425 to Rs 810 while wax rates have increased from Rs 58 to Rs 80. 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. Also Read: IPO-bound Nykaa acquires home-grown skincare brand Dot & Key
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. Also Read: 5 smartphones under Rs 20,000 to buy this Diwali: Check top Realme, Redmi, Oppo devices