ITC to raise packaged food prices by 7-8%

India's top cigarette maker ITC Ltd , which also makes packaged food, consumer goods and runs hotels, plans to raise packaged food prices by 7-8 percent going forward , the chief executive of food business said on Wednesday

"Prices of agri-commodities are on the rise. Prices have risen by 30-35 percent in the past two years...there is also simultaneous rise in freight rates and packaging costs," Chitranjan Dar told reporters.

The company sees its packaged food business growing 14-15 percent in FY12, he said.