Customers shifting to more affordable, smaller packs slows down FMCG firm’s rural growth

The country’s Fast-moving consumer goods (FMCG) industry witnessed a consumption slowdown in the December quarter, with an overall “negative” volume growth, as consumers continue to reel under inflationary pressure, says a report.
According to the report released by data analytics firm NielsenIQ on Thursday, in October-December, the FMCG industry grew 7.6 per cent in terms of value but its volume growth was (-) 0.3 per cent.
“… Overall FMCG volume growth is negative, the absolute values, as well as volumes, continue to be above pre-Covid levels across markets,” it said.
The rural markets declined 2.8 per cent registering the sixth consecutive quarter with negative volume growth, while the urban market maintained stable positive growth of 1.6 per cent.
In the retail space, Modern Trade channels maintained a double-digit value growth of 23.3 per cent and volume growth of 12.6 per cent on a year-on-year basis.
While the FMCG sales from traditional trade channels such as Kirana stor

The country’s sugar production rose 3.42 per cent to 193.5 lakh tonnes in the first four months of the ongoing marketing year ending September, on rise in output in key producing states, industry body ISMA said on Thursday.
Sugar production stood at 187.1 lakh tonnes during October-January period of the previous marketing year.
Sugar marketing year runs from October to September. India is a major sugar producing country in the world.
Releasing the latest production figures, the Indian Sugar Mills Association (ISMA) said around 520 mills were operating as on January 31, as against 510 mills in the year-ago period.
Total sugar production, after diversion for ethanol manufacturing, has increased to 193.5 lakh tonnes till January of the current marketing year from 187.1 lakh tonnes in the year-ago period, it said.
Sugar production in Maharashtra, the country’s leading producing state of the sweetener, rose to 73.8 lakh tonnes during October-January of the ongoing marketing year from 7

Amidst turmoil in crypto currencies market, India is working with the Financial Stability Board (FSB) so that a consensus on a roadmap for regulating virtual assets could be agreed at during India’s G-20 presidency itself, Economic Affairs Secretary Ajay Seth said on Thursday.
India as assumed G-20 presidency for 2023. The G20 is a premier forum for international economic cooperation that plays an important role in global economic governance.
In an interview to PTI, Seth said that an IMF paper on crypto assets was discussed among emerging economies on January 15 and 16 in Delhi.
“We had a one-and-a-half day workshop. Thereafter, they are drafting a paper for a seminar, which will be conducted on the sidelines of G20 Finance Ministers and Central Bank Governors meeting in Bengaluru that is scheduled on February 23,” he said.
That seminar is intended at arriving at a policy consensus on crypto assets, he said.
At the same time, he said, “We are also working with the FSB and the idea

The revenue growth was primarily driven by increase in content per vehicle, overall robust industry demand & parts SOB increase in select OEM’s.