FMCG major Nestle India on Tuesday cautioned that consumption growth in the food and beverages sector could moderate in the near term as inflationary pressures from the ongoing West Asia conflict and concerns over a weak monsoon linked to El Nino weigh on consumer demand.
The company said overall consumption and food and beverage industry growth remain a "watch-out in the short term", citing rising raw material costs driven by geopolitical tensions and weather-related uncertainties. Speaking during an analyst call, Nestle India Chairman and Managing Director Manish Tiwary said industry data already points to softer demand.
