The estate is being sold as a going concern to the partnership firm for a total consideration of Rs 6.60 crore, the company said in a filing with the stock exchanges. Khetojan estate produces 2.2 lakh kgs of tea annually.
Danone kicked off its nutrition business in India in 2012 with the acquisition of the nutrition portfolio from Wockhardt Group. The company’s India portfolio includes Aptamil, Neocate, Farex, Protinex, Dexolac and Nusobee.
The company unveiled its ninth bulk milk collection centre (BMC) at Vidyasagar Industrial Park, Kharagpur, on Tuesday. It intends to launch more BMCs in the state over the next few months. With the addition of the new milk collection centre, the company’s milk procurement capacity stands enhanced to 150,000 litres per day (lpd).
The edible oil manufacturers or processors, who have the licence for production of blended edible vegetable oil with mustard oil, have been directed to sell their existing stocks of mustard oil/mustard seeds or any other edible oil as unblended cooking oils, the letter said.
The company's chairman told ET that the business has been testing out a multiple product strategy to diversify beyond its instant noodle range and will be rolling out a series of products across different food and beverage categories in the coming months. For now, it will be hot sauces.
Experts at a conference organised by trade body PHDCCI noted that food processing is the fifth largest sector of the country's economy and spoke about various challenges being faced by the employment intensive industry.
Takeaways are currently accounting for 10-30% of overall sales of several food brands, from McDonald’s and Chaayos to KFC and Taco Bell, just a few months after restaurants were allowed to open their doors to consumers.
The government had reduced the import duty on lentils in June to 10% for a period of three months from June 2 to August 31. Farmer leaders had said that the decision was anti-farmer as the harvesting and marketing of local lentils was still in progress.
Dabur Cold Pressed Mustard Oil has been launched exclusively on e-commerce platforms like Amazon and MilkBasket. According to the company, the cold pressed technology ensures that the natural properties and health benefits of mustard are intact.
One among the largest baking companies in the world, Grupo Bimbo has presence in 33 countries, selling its 100 plus brands such as Entenmann's, Bimbo, Tia Rosa, Marinela, Barcel, Sara Lee, Oroweat and Arnold Bread. At present, Grupo Bimbo sells bakery brand Harvest Gold in India.
In an interview with , Sodhi said the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) expects 12-15 per cent growth in revenue in current fiscal year from Rs 38,550 crore during the last fiscal year despite COVID-19 pandemic, as demand for branded food products has increased.
“The transaction will double Orkla’s net sales in the fast growing Indian market, and the combination of MTR and Eastern will create a strong base for growth and value creation,” MTR Foods said in a statement.