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Rural demand slows down for FMCG
Mint Mumbai
|November 04, 2023
Consumer goods companies pointed to sluggish recovery in rural demand in the September quarter and said demand will improve “gradually" even as urban markets charged ahead helping companies lift quarterly volumes.
“Obviously there is a slowdown as far as FMCG is concerned. We are seeing a clear slowdown in rural. Despite us continuing to get deeper into rural areas, getting into more villages, etc, we have started to see the rural economy to splutter a bit. However, these are macro issues which companies like us cannot sort out," Varun Berry, executive vice-chairman and managing director, Britannia Industries Ltd, said during the company’s post earnings call on Thursday.
The company reported flat volume growth for the quarter gone-by.
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