Cargill Foods to Expand Retail Product Offerings in IndiaCargill Foods to Expand Retail Product Offerings in India
October 4, 2017
Agribusiness Cargill Foods India plans to increase its offerings of edible oils, wheat derivatives, and vegetable-based proteins in a bid to bolster its foothold in the country’s food retail sector, the Economic Times of India reported Tuesday.
“We intend to introduce more products into fats, carbohydrates, and proteins. These will serve the needs of a typical Indian household’s kitchen,” Cargill Foods India’s Deoki Muchhal M.D. told the Times.
Some of the new products will be tailored to suit the needs and tastes of Indian consumers, like edible oil, suji, pulses, and soya nugget.
Consumption of edible oils is on the rise in India, with annual consumption of the products growing by some 4% to 5% each year, according to Muchhal. Packed edible oils, by comparison, are growing by 15% to 18% annually in the country. Additionally, the company said the market for oils with essential fats could grow.
“We are going to create edible oil products suited for local consumption. We are not a country where we eat a lot of salad with an oil topping. We like to cook, so we will come with a formulation that enables housewives to cook, maintain health quotient, and manage the taste,” stated Muchhal.
Cargill also plans to look at introducing proteins made from soy, sooji, or dalia for local consumers.
“With government intervention and transparency on product approvals, more products will roll out, benefiting consumers and industry,” Muchhal said.
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