O-I said it believes the activity of destocking in beers and wines had now concluded.
In a quarterly report the company said it believed destocking activity had receded in all categories other than spirits, which it said will likely continue until the end of 2024.
Destocking has been widely blamed as the reason for the recent slowdown in the glass manufacturing industry.
Destocking is linked to the Covid pandemic when customers built up excess stock. The beverage industry stocked up on bottles to ensure it could continue to meet consumer demand even if supply chains were disrupted.
Since the pandemic has passed, those businesses have been destocking their large bottle inventories, resulting in lower sales for glass bottle manufacturers.
Verallia CEO Patrice Lucas echoed this view recently when he said destocking was at an end in the beer, non-alcoholic drinks and food segments.
“So in other words for the products which are produced, bottled and consumed locally we do not see any destocking effect anymore,” he said.
He was more cautious about the spirits and wine segments which are export-oriented.
“We do believe that there is still a destocking effect, which is affecting our market.”
08.11.2024, O-I
Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.