Rs 8,000-crore fund to help milk co-ops expand capacity

Source: The Economic Timrs, Dec 26, 2017

NEW DELHI: The National Bank for Agriculture and Rural Development will soon get going on a Rs 8,000-crore fund that the finance minister announced in this year’s budget to support the dairy sector. Under the Dairy Processing and Infrastructure Development Fund, Nabard is the nodal agency to finance projects over a period of three years.

It targets to sanction proposals to create new milk processing capacity of 27 million litres per day in the cooperative sector this year. “This year, 39 projects by various cooperative dairies will be cleared under the dairy processing and infrastructure development fund, entailing an investment of Rs 600 crore to Rs 1,000 crore,” Nabard chairman Harsh Kumar Bhanwala said. “With this investment, the milk processing capacity (in the cooperative sector) would increase from the current 66 million litres per day to 92.6 million litres per day. Further, the bulk milk-chilling capacity would go up from 48 million litres per day to 63 million litres,” said Bhanwala. Read the rest of this entry »

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Self-regulation for food companies, fast-food chains on menu

Source: The Economic Times, Dec 20, 2017

NEW DELHI:The government will establish a self-regulation platform for food companies, retailers stocking packaged food and fastfood restaurant chains, Food Safety and Standards Authority of India (FSSAI) chief executive Pawan Agarwal said. The move will help benchmark them against the best in class, thus raising standards and making companies mindful of rules and consumers.

Companies such as Hindustan Unilever, PepsiCo, Nestle, Parle Products, Danone, ITC, Patanjali and Mondelez, retailers like Walmart and Future Group, Aditya Birla Retail and Spencer’s Retail and quick service restaurant (QSR) chains including KFC and McDonald’s will be put on an equal self-compliance footing under the plan. Read the rest of this entry »

ITC opens Rs 1,500-crore integrated food park at Kapurthala

Source: The Economic Times, Dec 14, 2017

KAPURTHALA: Diversified firm ITC today rolled out its largest integrated food manufacturing and logistics facility here with the first-ever ‘wheat mandi’ unit to procure the grain from farmers, besides other FMCG units.

The facility spread across 8 lakh square feet and entailed an initial investment of Rs 1,500 crore was inaugurated by Punjab Chief Minister Amarinder Singh today.

ITC CEO and Executive Director Sanjiv Puri said the facility, when operational, will create direct employment of over 2,000 people, besides indirect employment throughout the value chain.

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ITC lines up Rs 10,000-cr investment to boost food processing business

Source: Business Standard, Nov 28, 2017

Kolkata: Cigarettes to fast-moving consumer goods (FMCG) firm ITC on Monday said it would invest around Rs 10,000 crore in the coming years to strengthen its business in the food processing sector.

 Sanjiv Puri, chief executive officer (CEO) of the company, said of the allotted investment, much of it would be in West Bengal. This is a part of the company’s Rs 25,000-crore-investment package that it has planned to invest on 65 projects, including 20 integrated factories for consumer goods across the country.

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Centre to set up more cold storages for storing perishable food

Source: Business Standard, Nov 09, 2017

Kochi: The Centre was working to set up more cold storages in the country as wastages were high due to lack of such infrastructure, Union Minister C R Choudhary said here today.

The country needed more cold storages for preserving vegetables, fruits and other perishable food items, the union minister of state for consumer affairs, food and public distribution said here after inaugurating the Central Warehousing Corporation’s regional office cum storage complex.

Only 10 per cent vegetables and fruits could be processed at present due to lack of cold storages, he said.

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Belgian beer brands Chimay and Delirium to enter India

Source: LiveMint.com, Nov 08, 2017

New Delhi: It’s brewed by monks within the walls of an abbey and profits from it go to charity. Now, Belgium’s Chimay, one of only 11 so-called Trappist beers in the world, will be available in India.

Chimay is entering the Indian market at a time the Belgian royal couple King Philippe and Queen Mathilde are in India to mark 70 years of diplomatic relations between the two countries.

Along with Chimay, Belgian beer Delirium, with its famous pink elephant logo, is also entering the Indian market. India will be the 60th market for Chimay and Delirium—two of the finest makers of ales in the world.

Both Chimay and Delirium will be imported, distributed and marketed in India by New Delhi-based Hema Connoisseur Collections Pvt. Ltd, an importer and distributor of some of top international liquor brands. Read the rest of this entry »

Hershey plans to turn India into export hub

Source: Business Standard, Nov 06, 2017

New Delhi: Global chocolate major Hershey is considering turning India into an export hub.

The company, which has recently urged Prime Minister Narendra Modi to ease export-import norms, plans to use the huge market as a testing ground for its newer products. India can be turned into an incubation hub for Hershey products once barriers are removed, said Steven Schiller, president international, Hershey global.

“During the round table meeting with Prime Minister Narendra Modi, I mentioned about two areas that requires focus. And they are about simplifying import and export barriers and tariffs here. India is a huge market and we want to build infrastructure here. But that’s a very expensive proposition. Despite the fact, that India has potential to be turned into an export hub. Also, we would like to bring our global products here and test them and then take them to other markets,” he said. Read the rest of this entry »