Clearly continuing weakness in demand not just in rural parts but also in urban areas is taking a toll.
According to the Kantar FMCG Pulse report, the sector was growing at 4 per cent at the start of 2023, propelled by the wheat flour or 'atta' prices. With 'atta' growing in double digits, the sector seemed to have grown at 6.1 per cent.
"However, removing atta from the mix brought the growth down to 2.7 per cent. Incidentally, 2.7 per cent is also the population growth in the year, which meant that FMCG volumes have grown purely on the basis of household population growth," the report added. In 2024, consumption might see a stagnation in the early part of the year before getting progressively better in the later half, stated the report.
This story is from the March 07, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 07, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Kansai Nerolac needs fresh coat to improve margins
Kansai Nerolac Paints has seen its market capitalisation (mcap) erode by over 5 per cent since May 3 after posting a subpar performance in the fourth quarter of 2023-24.
Cipla Promoters Offload 2.53% Stake For 2,637 Cr
Proceeds to be used for creating liquidity’ for philanthropy
US Protests: Why Are Faculty Voices Muted?
The silence of faculty underscores a shift where the pursuit of academic values takes a back seat to preserving financial interests
India's weight in MSCI equity index hits another high
India's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets.
Foreign investors most short on India stocks since 2012
Foreign investors are the most pessimistic in over a decade on Indian stocks amid speculation over Prime Minister Narendra Modi's party winning fewer seats in the ongoing national elections than previously estimated.
Raft of exemptions for government companies covers Sebi, MCA, CCI
Regulatory exemptions for government companies have been granted by multiple authorities. The Securities and Exchange Board of India (Sebi) has provided a raft of exemptions to listed public sector entities.
LIC gets until 2027 for 10% public shareholding
L ife Insurance Corporation (LIC) of India has been granted a three-year extension by the Securities and Exchange Board of India (Sebi) to achieve a 10 per cent public shareholding, the state-owned firm announced to the exchanges on Wednesday.
Leaning in: Isha Ambani beyond Reliance Retail
Ambani means business. Not only when she is doing business she .leads Reliance Retail-but also when she is not. The latter was unmistakable on Wednesday, during her eight-minute 49second video address on the occasion of Information and Communications Technology (ICT) Day India 2024\".
A MATTER OF ACCESS
What is on the cards for the India-Asean FTA review
Diplomacy from the outside in
This is a compelling and lucidly written memoir of a distinguished academic who established himself as a diplomat and special envoy, turfusually reserved for career diplomats. SD Muni was appointed by Prime Minister Inder Kumar Gujral as India's ambassador to Laos in 1997.
