The British-Dutch multinational corporation, Unilever is grappling to sustain the hike in global commodity prices as the commodity bill of the company has been forecasted to escalate by a staggering 2.4 billion Euros this year.

With the overdependence on raw materials like vegetable oils and chemicals for its major businesses, the spiraling prices are going to hit the completive position of the consumer goods maker in the international market.

Apparently, the company had saved its global repute when it narrowly missed its predicted 4.3% increase of first-quarter sales.

As the input cost is increasing consistently, the Knorr soup and Lipton tea group are expecting a hike in the cost price of products in the first half so that the upsurge in the commodity prices can be combated.

Deciphering the impact of expensive commodities on the global companies, market analysts downplayed the strength of Unilever in front of other EU food companies this year.

With the news of hike in the prices of Unilever products striking the global market, company’s shares dropped by 2.8% to 19.34 pounds on London's FTSE 100. Foreseeing the blurred future, the company is drafting strategy to increase the saving to 1.3 billion Euros