3F Industries enters branded edible oil business

The consumer business division of 3F Industries Ltd (formerly Foods Fats & Fertilisers Ltd) today announced its entry into the branded packaged oil business by launching Sunsolite, its refined sunflower oil brand.

3F Industries Ltd (3FIL), with a current turnover of Rs 1,143 crore (on standalone terms), has a pan-India presence in the extraction and refining of edible oils like sunflower, rice bran, palmolein and palm kernel.

Sushil Goenka, director of 3FIL, said the company would utilise the additional capacity at its refinery near Krishnapatnam port, Nellore, for the production of Sunsolite. The Nellore refinery, set up in 2012-13 with an investment of Rs 200 crore, is an automated plant with a refining capacity of 100 tonnes sunflower oil per day.

The company is eyeing a 10 per cent share in the sunflower oil market by the end of the next financial year and was aiming at an annual business growth of 10 per cent.

3FIL intends to cover the entire south India by 2015-16 and subsequently expand to western and eastern geographies by 2017, helping it to fully utilise its refinery capacity of 2,500 tonnes per month.