Manuela Banu, executive general manager of Orkla Foods Romania,producer of Linco margarine and of Ardealul pâté, says theausterity measures announced by the government have influencedconsumers' decisions, causing them to adjust their shopping basketbudget.
"Whilst in the first quarter of the year the market was stablecompared with the similar period of last year, the effects of thecrisis were felt once again after the Eastern holidays. The marketis under psychological shock as far as consumption is concernedbecause in Romania we are only now feeling the impact of theeconomic crisis," says Manuela Banu, executive general manager ofthe company, who added that the results of Orkla Foods Romania werein line with the market in the first quarter of this year.
Banu added the first quarter results were driven by theaggressive discounts operated in this period and by the fact thatEaster was celebrated earlier.
"Now we are facing a market value decrease. The aggressivediscounts, which amounted to price declines between 5% and 20% onthe FMCG market bore fruit in the first quarter of the year, buthad a negative impact on consumption in the months that followed.The government's measures also contributed to the consumptiondecline recorded in the second quarter."
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