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Nestle India shares drop 5.4% to record worst day in 3 years

Published:

Apr 18, 2024 01:19 PM IST

Nestle India share price: Shares of Nestle fell marking the worst single-day drop in the last 3 years after the report

Nestle India share price: Shares of Nestle India fell up to 5.4% to the day’s low at 2,409.55 on BSE. This comes after it was reported that the FMCG major was adding sugar to baby food products sold in India and several countries but not in Europe and UK. Shares of Nestle fell marking the worst single-day drop in the last 3 years after the report.

Nestle India share price: The Nestle logo is pictured on the company headquarters building in Vevey, Switzerland.(Reuters)
Nestle India share price: The Nestle logo is pictured on the company headquarters building in Vevey, Switzerland.(Reuters)

“Public Eye,” a Swiss investigative organization, noted in its investigation that every Cerelac baby cereal contains supplementary sugar, nearly 3 grams per portion, in India. Meanwhile, Cerelac wheat-based cereals for six-month-old infants retailed by Nestle in Germany, France, and the UK do not have any additional sugar, the report added. The identical product has more than 5 grams per serving in Ethiopia and 6 grams in Thailand, it added.

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Read more: Nestle adds sugar to infant milk, cereal products sold in several countries including India, study claims

Public Eye and IBFAN (International Baby Food Action Network) reached to the conclusions after dispatching samples of the company’s baby food items that are marketed in Asia, Africa, and Latin America to Belgium.

The report noted, “While Nestle prominently highlights the vitamins, minerals, and other nutrients contained in its products using idealizing imagery, it’s not transparent when it comes to added sugar.”

Read more: Nestle’s major controversies in India and globally: From adding sugar in baby food to Maggi ban

An expert said as per the report, “This is a big concern. Sugar should not be added to foods offered to babies and young children because it is unnecessary and highly addictive. Children get used to the sweet taste and start looking for more sugary foods, starting a negative cycle that increases the risk of nutrition-based disorders in adult life. These include obesity and other chronic non-communicable diseases, such as diabetes or high blood pressure.”

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