Bengaluru, June 17 -- As crude prices tumble on hopes of a US-Iran peace deal and the reopening of the Strait of Hormuz, India's packaged consumer goods makers are cautiously optimistic that months of cost pressures may finally begin to ease.

However, any relief is unlikely to reach consumers before September.

Parle Products, among the country's largest packaged food companies, expects lower oil prices to eventually reduce packaging, manufacturing and freight costs, but says the industry is still waiting for prices to stabilize before making any pricing decisions. "We expect the impact to be positive as lower crude prices could help improve consumer sentiment," Mayank Shah, chief marketing officer at the company, told Mint.

Marico Ltd ...