Even though it proudly boasts of a catchy tagline, “Taste bhi aur Health bhi”, the FMCG Giant Maggi noodles is now stuck in an unexpected fiasco.
During the end of May, the Food Safety and Standards Authority of India of the Uttar Pradesh’s Barabanki division test a few samples of the FMCG giant Maggi, and the tests showed excess of Monosodium Glutamate (MSG) and lead, taste enhancers found in packaged foods, in the Maggi noodles, advising the UP government to ban the selling and consuming of Maggi noodles until the FSSAI submits a clear report.
The reports showed that the MSG is 8 times higher than the permissible limits, which will lead to failure of nervous system, learning and thinking disorders, lessening of blood in children while excess lead leads to frequent headaches etc over a chronic period of consumption.
These reports led to intense public protests and after the Indian Army and the Delhi Government banned the selling of Maggi in the market, several states like Jammu & Kashmir, Kerala, Tamil Nadu, West Bengal,Bihar and lately Telangana followed suit and banned Maggi until a standard report from the FSSAI.
This ban on India’s most favorite snack for 40 years made its CEO Paul Bulcke fly down to India and address the company’s loyal customers whose faith in the product has weaken thoroughly. In a press conference earlier today, Bulcke said that Nestle has been in India for the last 100 years and that the company is an integral part of India.
Explaining further, the Nestlé’s CEO said that the MSG found inthe samples is not separately instilled by the company but is naturally found in its ingredients like hydrolyzed groundnut protein, onion powder and atta (wheat flour).
This whole ban resulted in a severe loss to one of the world’s most favorite food brand. The company has so far lost close to 10,000 crores of its market cap in just five trading sessions, with the Nestle shares going down at an alarming rate of 15% from Rs 7,038.65 to Rs 6,010.80.
Already, Nestle withdrew nine variants of Maggi from the market upon the FSSAI’s orders until the state and federal authorities final call on its status once the final report is submitted by the FSSAI.
On the other hand, loyal customers who can’t imagine their day without Maggi noodles have been extending their support to their favorite ‘2 Minute snack’.
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