Burger King’s India sales up 66% in FY19

Source: ETRetail.com, Oct 07, 2019

MUMBAI: Fast food chain Burger King posted a 66% growth in sales in India in the year to March 2019 and significantly narrowed losses on the back of aggressive expansion, entry level pricing and largest vegetarian menu within global quick service restaurant chains.

The US chain that entered the Indian market in 2014 posted sales of Rs 644 crore in FY18-19 while its losses reduced to Rs 16 crore. A year ago, it had sales of Rs 389 crore with net loss of Rs 63 crore, data sourced from Veratech Intelligence showed. For Burger King, India has been the fastest growing market in terms of store expansion.

Last fiscal, it added about 58 stores, taking the store count to 187. Read the rest of this entry »

Food ministry pushes for increase in allocation of subsidised food grains

Source: The Economic Times, Sept. 17, 2019

NEW DELHI: The food ministry has revived the proposal to increase by 2 kg each the allocation of subsidised food grains to 810 million poor people covered under the National Food Security Act.

Food minister Ram Vilas Paswan has written to Prime Minister Narendra Modi seeking his approval for this proposal, which has been lying before the Cabinet for some time.

If the proposal gets clearance, it will help the government offload massive stocks piled up in granaries ahead of the fresh procurement season, which starts in October. Read the rest of this entry »

FSSAI frames law to promote food donation

Source: ETRetail.com, Aug 27, 2019

New Delhi: Food regulator FSSAI has framed a regulation to promote food donation by businesses and reduce wastage. “Food Authority has come up with the Food Safety and Standards (Recovery and Distribution of surplus food) Regulations, 2019, so as to provide a legitimate backup to the food donation in India,” the regulator said in a statement.

The purpose of these regulations is to establish a uniform national regulation to protect organizations and individuals when they donate food in good faith.

The Food Safety and Standards Authority of India (FSSAI) seeks to encourage the donation of food and grocery products to nonprofit organizations for distribution to needy individuals. Read the rest of this entry »

India becomes Bacardi’s second- largest rum market by volume

Source: ETRetail.com, Aug 19, 2019

MUMBAI: India has outpaced Mexico to become Bacardi’s second largest market for rum by volume, as consumers gradually shift to pricier products across the spirits segments in a largely whiskey-dominated market.

Bacardi sold about 1.7 million cases of its eponymous brand in India, compared with 1.4 million in Mexico in 2018. A year earlier, both countries had similar volume sales at 1.4 million cases, according to the International Wine and Spirits Research (IWSR). The US remained the largest market for the Bermuda-based company with rum sales of 6.4 million cases.

“We see lot of consumers upgrade to higher-priced rum and other spirits which helped us grow about 19% last year since most of our brands are into premium segments. India is also a top priority market for us globally, and we have been investing in bringing newer brands and supporting infrastructure last year,” said Sanjit Randhawa, the managing director at Bacardi India. “The market also bounced back after highway ban and regulatory issues a year ago.” Read the rest of this entry »

Vegetable oil import up 26% in July, palm oil shipment highest in 6 yrs

Source: Business Standard, Aug 14, 2019

Vegetable oils import rose 26 per cent to 14.12 lakh tonne last month on sharp jump in shipments of refined palm oil — highest since May 2013, according to industry body SEA.

Imports of vegetable oils (edible and non-edible) stood at 11.19 lakh tonne in July last year.

Edible oil import increased to 13.47 lakh tonne from 10.53 lakh tonne, while non-edible oil import fell to 64,119 tonne from 65,825 tonne, the Solvent Extractors’ Association of India (SEA) said in a statement.

During November 2018 to July 2019 period, the overall import of vegetable oils went up 5 per cent to 112.8 lakh tonne against 107.6 lakh tonne in the corresponding period of the previous year. Oil year runs from November to October. Read the rest of this entry »

Amazon to launch food delivery service in India

Source: ETRetail.com, Jul 30, 2019

Amazon is planning a foray into the burgeoning online food delivery business in India this year, two sources aware of the development said, in a move that could raise competition in an increasingly crowded market.

The Seattle-based company is working with local partner Catamaran, founded by IT industrialist Narayana Murthy, and has begun hiring staff for the new operation, the sources said, declining to be named because the plans had yet to be made public.

Amazon is aiming to launch the new service delivering from restaurants ahead of the festive season, which kicks off in September, one of the sources said. India’s rising middle class has driven the growth of the online food delivery sector, with research firm RedSeer Consulting saying order numbers rose 176 per cent in 2018. Read the rest of this entry »

PepsiCo to invest Rs 514 cr to set up snacks plant in UP; create 1,500 jobs

Source: Business Standard, Jul 28, 2019

New Delhi: Food and beverages major PepsiCo India on Sunday said it plans to invest Rs 514 crore over the next three years to set up a greenfield snacks manufacturing plant in Uttar Pradesh.

The new investment plan is in line with PepsiCo’s goal to double its snacks business in the country by 2022 and is expected to help create over 1,500 jobs, both direct and indirect, the company said in a statement.

A memorandum of understanding (MoU) for the project was signed between the company and the Uttar Pradesh government at the ground-breaking ceremony of the investor summit in the state in the presence of Home Minister Amit Shah and Chief Minister Yogi Adityanath, it added. Read the rest of this entry »