Multinational companies in the fast moving consumer goods sector (FMCG) have reported a significant destocking impact on their June-quarter sales growth numbers, ahead of the implementation of the goods and services tax (GST) in India.
On Thursday, the world’s second-largest consumer goods company, Unilever, reported a 0.6 per cent decline in sales volume growth in the Asia, Africa, Middle East, Turkey, Russian and Brazil regions, clubbed as the Asia/AMET/RUB zone, in the quarter (Q2).
It was the only Unilever region to report a decline in Q2 (Americas and Europe, the other two regions, reported a 0.9 per cent and 0.1
