`Spanish Olive Oil Giant Sets Up Shop in India - Olive Oil Times
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Spanish Olive Oil Giant Sets Up Shop in India

By Olive Oil Times Staff
Jun. 16, 2010 21:01 UTC

NEWS DELHI — Spanish food major Borges Thursday said it is aim­ing to set up olive plan­ta­tions in India, fol­low­ing the set­ting up of its 100 per­cent sub­sidiary here and the launch of its range of healthy oils and even microwave pop­corn.

The com­pany, which has also launched its bal­samic vine­gar for the Indian mar­ket, is tar­get­ing a man­u­fac­tur­ing unit in India, which will be part of the Rs.65-crore invest­ment planned for the coun­try over the next three years, top offi­cials said.

“We have been talk­ing to the gov­ern­ments of Rajasthan, Himachal Pradesh and Punjab for plan­ta­tions. The feed­back has been pos­i­tive,” said Rajneesh Bhasin, man­ag­ing direc­tor, Borges India.

“Plantation of olives in India will reduce the com­par­a­tive cost price. It will result in a huge employ­ment oppor­tu­nity. It will con­tribute to the soci­ety and help us to part­ner with var­i­ous peo­ple in the value chain,” Bhasin told IANS.

Speaking about the plans for a man­u­fac­tur­ing unit which the com­pany pro­poses to set up by the year-end, the India head said this will help reduce the cost of prod­ucts the com­pany wished to pro­duce. He did not dis­close which prod­uct they will first tar­get.

For the moment, the com­pany will con­cen­trate on its three ranges of olive oil — extra vir­gin, light and pure cat­e­gories — tar­get­ing the mar­kets in Delhi, Mumbai, Banglore, Hydrabad, Chennai and Pune. Next year, the com­pany hopes to expand to 36 cities.

According to Borges, the size of the mar­ket for Olive oil in India is pegged at Rs.400 crore over the next three years, with some 70 brands that are mainly imported. But the com­pany, with a 100 per­cent arm in India, hopes an 18 per­cent mar­ket share soon.

Speaking about exist­ing prod­ucts, Bhasin said their extra light olive oil was con­ceived pri­mar­ily for the Indian con­sumer, since it will not inter­fere with the fla­vors and the aroma of the domes­tic cui­sine and yet remain a healthy cook­ing medium.

The company’s prod­ucts, which include nuts, dry fruits, table olives, vine­gars and salad dress­ings, has a pres­ence in over 100 coun­tries. The group was founded in 1896 and has plan­ta­tions in Spain and California, besides sourc­ing from other coun­tries.

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