Industry news
FBD: Bharti-Del Monte JV Field Fresh Foods will start production in India by 2010
Last updated: 16 November 2009
FieldFresh Foods, a joint venture company of Bharti Enterprises Limited and Del Monte Pacific Limited, has said that the company’s upcoming plant in Hosur, Southern Indian state of Tamil Nadu, will start production of the company’s entire processed foods by April 2010.
FieldFresh has invested US$ 20 million for setting up of this plant. The company currently imports the entire product line and the import duty on such products is 37%.
“We plan to have our plant set up very soon for manufacturing all our existing products and, if need be, a few new ones, including the 1-kg glass bottles for ketchup,” Mr. Sanjay Nandrajog, CEO, FieldFresh Foods, said.
FieldFresh Foods has 14,000-15,000 general outlets and about 1,000 outlets in modern trade. But the company has no immediate plans to enter the rural markets.
“Del Monte will have a lot of branding and promotion to do before they can hope to cut into the fruit drinks space, which stands at around US$ 300 million and the fruit juice market at Rs 600 crore.” notes another senior analyst.
Bharti Enterprises Vice-Chairman and Managing Director Mr. Rakesh Bharti Mittal said, “We want to be one of the top 10 food and beverage companies in India in the next five years”.
In an exclusive interview with Foodbizdaily.com, Mr. Nandrajog said, “Our brand Del Monte will provide the consumers an excellent taste experience. The consistency of this experience will create a unique position for our products in the consumer’s shopping basket”.
Del Monte has a very wide portfolio of products. The Del Monte product range includes pineapple fruit drink with pulp, pineapple orange fruit drink and four seasons fruit drink (Pineapple, Mango, Orange and Guava).
The packaged fruits include pineapple slices, pineapple tidbits, prunes, fiesta fruit cocktail and peach halves.
Also, ketchup & sauces include tomato ketchup, tomato chili sauce and Italian range include range of dry pasta, table olives and olive oil etc.
The Greenfield facility near Hosur will produce a range of Food & Beverage products for the Indian market. The Joint Venture will make an initial investment of about US$ 20 million towards setting up this facility, Mr. Nandrajog told FoodBizDaily.com.
