Snapshots of Food Industry News
PureCircle to partner with Indian farmers for cultivation of Stevia
PureCircle, a Malaysia based natural sweetener, will invest about Rs.1330 crore over the next five years as it begins its foray into India. The company has plans to partner with Indian farmers for stevia cultivation. PureCircle will invest the money in a supply chain, increasing cultivation and getting insights. In India stevia is also called Meethi Tulsi and Meethi Patti by farmers. Trials have begun in six states which include Punjab, Uttar Pradesh, Tamil Nadu and Jharkhand.
PureCircle sells zero-calorie sweetener stevia, across the world and in December 2015 it received the nod from FSSAI for the manufacture of stevia in India. Stevia leaves are processed into a white powdery substance which then works as a natural sweetener. PureCircle is in talks with multinational food and beverage companies in India. Outside Indian markets, the company’s clients include Nestle, Pepsi, Coca-Cola, and Danone.
MA’s Foods Sri Lanka procure fund infusion from Aavishkaar Frontier Fund
MA’s Food Sri Lanka, the family-owned meal provider, has negotiated a deal with Aavishkaar Frontier Fund which will see the latter infuse equity to the tune of Sri Lankan Rupee (LKR) 300 million in MA’s. This is Aavishkaar Frontier Fund’s first investment in Sri Lanka. The 30-year-old MA’s began as an ingredient supplier and has now emerged as a manufacturer of popular brands like MA’s Kitchen, Happy Home, Dad’s Garden and Pasta Roma. MA’s markets a large portfolio of organic, fair-trade and conventional gourmet meals. It also has on its portfolio spices, seasonings, curry pastes, sauces, ready-to-eat foods and coconut based products. The company’s export markets include quality destinations such as Japan, Germany, and Holland. They will use the fund infusion for a state of the art factory in north Sri Lanka and for further growth.
Aavishkaar is very happy to have found the right partner in MA’s for its first investment in Sri Lanka. Aavishkaar Frontier Fund began with a focus on early-stage enterprises operating in India and now works with enterprises in South and South East Asia. MA’s investment is the second investment from its Frontier Fund, a regional fund, which invests in Sri Lanka, Bangladesh, Indonesia, and Pakistan. Since its incorporation in 2002, Aavishkaar has made more than 50 investments and currently manages US$200 million of funds.
Saraiwwalaa adds new products to its ‘Naturralle’ portfolio
Saraiwwalaa Agrr Refineries Limited (SARL), a leading edible oil company, has introduced Naturralle Health Rice Bran Oil and Naturralle Sona Masuri Rice. This move is in keeping with its strategic growth vision under its flagship brand “Naturralle.” Naturralle Health Rice Bran Oil is being refined physically so that the rice bran is retained to enable it to have high amounts of oryzanol. The heart-friendly oil improves the HDL/LDL ratio and has the right balance of saturated, monounsaturated and polyunsaturated fats as recommended by American Heart Association & the World Health Organization.
SARL has been processing paddy for over two decades now. The Company is already an established exporter of Sona Masuri Rice. However, Naturralle Sona Masuri Rice has now been launched in convenient retail packs as an attractive price point. Based on customer feedback they have introduced the retail backs as customers were unable to always find it in the market. The company is likely to have a team that will ensure wider availability of Naturralle Sona Masuri Rice for Indian consumers. Naturralle Health Rice Bran Oil and Naturralle Sona Masuri Rice are products that are aimed at the health conscious customer base. Not only consumers with medical conditions, but also the health conscious segment, which believes in eating right to prevent ailments, will be able to benefit from these products.
Mad Over Donuts introduces four new flavors
The Singapore based, Mad Over Donuts, has introduced its new signature range of donuts in four gourmet international flavors. The gourmet donut brand has been able to create a strong presence in India in only a few years. The company’s new flavors include the Tiramisu donut, which is based on a very popular Italian dessert. The donut will have tiramisu buttercream filling, white chocolate, and cocoa dusting. Salted Caramel donut will be filled with salted caramel buttercream, a drizzle of caramel sauce, crushed butterscotch bits and a light sprinkle of sea salt. Those who like the sweet-salty combination are sure to enjoy this one. Mocha Truffle donut, as the name suggests, combines the wonderful flavor of coffee and chocolate. This donut will be filled with espresso chocolate ganache and topped with white chocolate and chocolate chunks. The Vanilla Cheesecake donut has an infusion of vanilla cream cheese and topped with crunchy biscuit crumbs. The donuts are priced at Rs.80 per piece which seems reasonable for gourmet donuts.
Coffee Day Hotels and Resorts to partner with Barefoot for expansion in Andaman
The Serai Resorts has teamed up with Barefoot Resorts to take their footprint across the Andaman Islands. Serai Resorts is part of Coffee Day Hotels and Resorts (CDHR) which in turn is a part of India’s largest integrated coffee conglomerate – Coffee Day Enterprises Ltd. CDHR was incorporated in the year 2008 and launched their first property under the brand name ‘The Serai’ in Chikmagalur district of Karnataka. The Barefoot Group was founded in 2002.
Both The Serai and Barefoot Resorts have similar styles of operations and have destinations that make full use of natural resources. The Serai is likely to gain from Barefoot Resorts unique concept and experience. Barefoot Scuba has grown to become South Asia’s largest PADI dive center. This association will help to increase its presence in the most preferable getaway destinations. CDHR currently has a strong presence in Karnataka but since the Andaman Islands have become a popular destination they wish to expand into that area too and feel that the partnership will be fruitful for the Coffee Day Hotels and Resorts business too.