 "Marico")
The India business of Marico, the consumer goods company, declined in mid-single digits by volume in the April-June quarter when sales of its Saffola cooking oil brand dropped sharply.
The company’s Parachute coconut oil also recorded a marginal volume decline in the quarter. “In India, the sector continued to witness tepid demand as rising retail inflation exerted pressure on share of wallet for FMCG,” Marico said in its quarterly update.
The company said that trends indicate consumers in some non-essential categories are either picking cheaper brands or switching to smaller packs in essential categories. Premium categories did better because of
