FMCG COMPANIES SEE PEOPLE STOCK UP PANTRY ITEMS

The surge in Covid cases driven by the Omicron variant is not expected to disrupt the performance of units registered under the STPI scheme with proven remote working protocols already in place, according to a top official. The value of software exports from the STPI units is expected to be at over Rs 5 lakh crore during FY22, almost similar levels or a tad higher than the previous year, Arvind Kumar, D-G, STPI, said.

The government has decided not to impose anti-dumping duty on certain steel products being imported from countries, as the finance ministry has not accepted the recommendations of the directorate general of trade remedies (DGTR). DGTR had conducted a probe against imports of ‘cold Rolled/cold reduced flat steel products’ and ‘Hot Rolled flat products of alloy or non-alloy steel’, following complaints.

New Delhi, Jan. 9: FMCG companies witnessed an increase in demand in the past two weeks as consumers stocked up in the wake of rise in Covid-19 cases across the country, and have ramped up supplies to their stockists to avoid supply shortage.

Companies such as Parle Products, Dabur India and ITC, which are already facing inflationary pressures on inputs, are keeping extra stock of raw materials to avoid any disruptions in the supply chain due to the fresh wave of the pandemic, putting in use their learnings from the past two waves.

The FMCG makers also expect that a sudden increase in Covid cases and some restrictions imposed by local authorities in some states would again impact the demand for out of home’ channels products, which was recovering from the last few months, though demand for home consumption and immunity products is going to gain for few weeks. The companies expect accelerated digitalisation — e-commerce and omnichannel presence with tech platforms expected to play a role in uninterrupted supply of FMCG products.