NEW DELHI, Dec. 8 -- Prices of key inputs for the fast-moving consumer goods (FMCG) sector are moving in opposite directions, creating a mixed margin outlook for companies such as Hindustan Unilever, Marico and Parle Products. Several agricultural inputs and packaging materials, for instance, are getting cheaper, while other commodities such as sugar, coffee, and fishmeal are becoming more expensive, potentially producing an uneven impact on FMCG companies' profit margins. Industry analysts say that the coming quarters may bring margin relief in some pockets for large food, beverage and home-and-personal-care companies, even as price volatility persists in other key commodities. "Considering current raw material inflation and GST 2.0 rollout, majority of the companies will witness volume-led growth in the second half of FY26, especially in food and beverages & beauty and personal care segments," said Ronak Shah of Equirus Securities. Edible oils remain among the more volatile inputs. Price of copra-crucial for manufacturers of hair oils, soaps and coconut-based foods-declined 6% in the ongoing quarter (as of November-end), but remains sharply elevated on a yearly basis, up 60% due to production disruptions and festive demand, Equirus Securities analysts said in a note on Thursday. The brokerage has used 1 December spot prices, rather than 31 December quarter-end data, for its sequential and annual comparisons. Companies say some margin respite is likely in the near term."Palm oil prices have definitely cooled down the last four weeks on the back of good production in Malaysia and Indonesia. It is difficult to say how much we can pass on to the consumer because when the prices went up, we didn't hike prices a lot, and therefore, that impacted margins to a certain extent. Margins dropped with palm oil prices moving up. Now with the softening, we will have to see how competition behaves, and then take a call. The way palm oil and crude prices have been reasonably benign, I would say margins would improve a little bit," Vineet Agrawal, chief executive officer (CEO) of Wipro Consumer Care and Lighting, told Mint on Friday. The company raised prices of its Santoor soap brand ahead of the implementation of the new GST rates as palm oil costs surged. Effective 22 September, the government simplified the indirect tax system into two main slabs of 5% and 18%, with a few items such as tobacco and high-end cars in a new, outlier slab of 40%. A host of mass-use items such as hair oil, toilet soap bars, shampoos, toothbrushes, toothpaste, tableware, kitchenware, and other household articles moved from either 18% or 12% to 5%. "I don't see any price increases going forward at least in the short term," Agrawal added. Meanwhile, edible oil company Marico Ltd faced elevated cost in the July-September quarter due to higher copra prices, a key input for its Parachute coconut oil brand. Copra price rose 113% year-on-year during the September quarter. Marico raised prices of Parachute products by 60% over the past year. The portfolio contributes 36% to the company's India revenue. Parachute reported a small drop in September quarter volumes. Saugata Gupta, managing director and CEO of Marico, said prices have started easing. "Copra is 16% off its peak. We believe that by March it is expected to be better," he said in a November interview with Mint. In the September quarter, the company's gross margin shrank about 810 basis points (bps) from a year ago....