Food major Cargill enters chocolate market in India
By Retail4Growth Team | June 24, 2020
US-based food major has tied up with a local manufacturer in the western region to produce 10,000 tonnes annually
US-based food major Cargill announced foray into the chocolate business in India and said it has tied up with a local manufacturer in the western region to produce 10,000 tonnes annually.
According to the company, the facility is expected to begin operating in mid-2021 and will initially produce 10,000 tonnes of chocolate compounds. Cargill said it will bring premium chocolate compound products to the Indian market faster, through this local manufacturer.
“Consumer demand for chocolate products continues to grow steadily in the Asian market. To help the food industry meet this growing demand, Cargill is partnering with a local manufacturer in western India, to launch its first chocolate manufacturing operation in Asia,” Cargill said in a statement.
Cargill started operations in India in 1987. It has businesses in refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, bio-industrial and trade structured finance.
“India is a key growth market for Cargill. This new partnership reinforces our commitment to increasing our regional footprint and capabilities in Asia to better support the needs of our local Indian customers as well as multi-nationals customers in the region,” said Francesca Kleemans, Managing Director of Cargill Cocoa & Chocolate Asia-Pacific.
With the addition of the new manufacturing plant in India, Cargill said it plans to scale up operations. Cargill in India markets leading consumer brands of edible oils such as Nature Fresh, Gemini, Sweekar, Leonardo Olive Oil, Rath and Sunflower brand of hydrogenated fats.
