Snapshots of Food Industry News
Atta based variant for ITC’s Sunfeast Yippee
ITC is keen to expand into two other variants of instant noodles under its brand Sunfeast Yippee. Keeping in mind the demand for health and nutritious foods ITC will soon have its atta and multigrain variant instant noodles in the market. The move is also aimed at accelerating the goal of attaining the Rs.1000 crore sales for this fiscal. The atta noodles are likely to be launched next month at a premium of 20 percent.
According to available market reports Sunfeast Yippee is in number two position among instant noodle brands with about 34 percent of market share. Yippee gained momentum when Nestle’s Maggi noodles were off the shelves due to the ban it suffered last June. However, with its re-launch Maggi continues to dominate the instant noodle market which is almost Rs.2000 crore strong. Instant noodle makers are aware that consumers want safe and healthy products and so they are ensuring they remain in the market with products that have consumer trust.
Emami Agrotech Ltd to expand its edible oil factory at Haldia
Emami Agrotech Ltd will invest Rs.300 crore to expand the refining capacity in its edible oil facility in Haldia. Presently the company has a manufacturing capacity of 4000 tonnes from two of its plants. The company will increase the capacity of its Haldia plant by another 1000 tonnes to take the total capacity to 4000 tonnes per day, making it the largest single location edible oil refinery of the company. Other expansion plans for Haldia include the setting up of a 7.5MW captive power plant. The expansion at Haldia is likely to be completed by the end of this year.
The Indian edible oil industry is the fourth largest in the world. Emami Agrotech, which is part of the Emami Group, also aspires to become the second largest edible oil manufacturer in the country to double its market share to about 11 percent. Therefore it has on the anvil, future plans to increase the number of edible oil plants. They are likely to set up two new plants in the future in Gujarat and Karnataka near the Kandla port and a third plant is planned for Rajasthan.
Mother Dairy aims for RS 10,000 crore sales by FY18
The dairy business is spiralling upwards and Mother Dairy is eyeing sales of Rs.10, 000 crore by 2018. Mother Dairy, a wholly-owned subsidiary of National Dairy Development Board (NDDB) had sales of about Rs.7, 000 crore in FY16. The growing demand for milk and milk products and the various plans for expansion to cater to the new demand could see Mother Dairy easily achieve its goal.
As part of its future plans the company is exploring markets in Nagpur, Pune, Aurangabad and Nasik and in some other cities of Maharashtra. With its new plant coming up in Biwandi, Maharashtra at an estimated cost of Rs.100 crore, Mother Dairy is looking to step into the area in a big way. Besides this the company intends to market its existing products in new markets in Bihar, Odihsa and Southern India. As part of its strategy, Mother Dairy recently introduced cow milk in Hyderabad which was a bold step considering that people there prefer buffalo milk. The company is confident that in a couple of years, awareness about benefits of cow’s milk will see them doing well in Hyderabad too.
Nutriproducts introduces natural resourced plant formulations
India’s organic tea manufacturer Herb Nutriproducts also manufactures a large number of natural products, supplements and herbal infusions. After years of research it has now introduced new plant based formulations and food supplements under the Pure Nutrition brand. These natural nutrients are used to prevent and treat complex ailments such as diabetes, cardiovascular diseases, liver and kidney complications, as well as weight-related problems.
Pure Nutrition uses its team of expert herbalists, scientists, nutritionists and doctors to experiment and derive formulations that are absorbed into the cells of the human body. The products are formulated from plants advised by knowledgeable nutritionists and food engineers in combination with ancient knowledge of local doctors and farmers. The company also works with farmers to maintain sustainable and consistent supply of plant ingredients to cope with the growing demand for these products. Pure Nutrition has a presence in Bangalore, Chennai, Coimbatore and Mumbai and extends its reach through the e-commerce platform also.
ITC set to add value to its existing food business for sustained growth
Most of ITC’s businesses contribute to its growth but it is its well established FMCG world-class Indian brands that promise maximum value addition. In the food sector ITC feels that weak infrastructure impedes growth in the processed food industry especially for perishables. The company is exploring the opportunity to invest in a state-of-the-art cold chain to cover farm produce, including fresh, frozen and dehydrated fruits and vegetables.
In the premium coffee sector ITC is encouraging synergy of superior agri-sourcing and culinary expertise. The company is also working with farmers through an integrated farm management system to grow high quality super safe spices. ITC is all set to launch a new range of spices that have been tested for 450 contaminants which is at par with European standards. In India spices are otherwise tested for only 10 or so contaminants.