FMCG: Prices of edible oils, which experienced significant inflation after the COVID-19 pandemic, have declined by 13-30% over the past year. However, prices of daily groceries and household products, including rice, soaps, and detergents, have seen marginal increases in 2022, according to a report by Bizom.
Prices of edible oils, which experienced significant inflation after the COVID-19 pandemic, have declined by 13-30% over the past year. However, prices of daily groceries and household products, including rice, soaps, and detergents, have seen marginal increases in 2022, according to a report by Bizom.
After the Bhartiya Janata Party s decisive victories in Chattisgarh, Rajasthan, and Madhya Pradesh last Sunday, the market witnessed a robust rally, which briefly paused mid-week. However, as the week concluded, buying momentum resumed, propelling benchmark indices to fresh highs. This resurgence was attributed to positive global cues and the Reserve Bank of India s (RBI) optimistic revision of the FY23-24 GDP forecast to 7%, up from the earlier 6.5%, in its monetary policy announcement.
We mentioned yesterday that the markets may pause for breath. On Thursday, 2196 stocks advanced, 1568 declined and 121 remained unchanged, with an advance decline ratio of 1.40 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.
FMCG companies had indicated that consistent decline in rural markets had halted in the September quarter but deficient rains, followed by a spike in food prices affected the second part of the quarter. Sales in villages fell 9.6% year-on-year in November, more than the 3.5% decline in cities, said Bizom, which expects rural consumption rebound to take slightly longer.