INDIAN BANKNOTE WITHDRAWAL CAUSES SHORT TERM DISRUPTION BUT COULD SOLIDIFY LONG-TERM GROWTH FOR PACKAGED FOOD
December 1st, 2016
India’s demonetisation of high value Indian Rupee INR500 and INR1,000 currency notes has hit demand for packaged food and disrupted supply chains, forcing food companies to cut production and growth plans.
“The [negative] impact [on sales] has been between 15 to 40 percent depending upon the product category,” Sagar Kurade, president of All India Food Processors' Association, in New Delhi, told just-food, “The spending patterns of the consumers have changed and they are making only priority purchases.”
According to Mr Kurade, the impact on ...
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