Himalya plots yoghurt expansion in Indian cities.
HIMALYA International Limited, a processed food company based India's northern state Himachal Pradesh with strong USA export sales, has started supplying natural fruit yoghurt under contract to retailers in India's major cities. At present, the company is manufacturing 10 tonnes per month of strawberry and banana fruit yoghurt (soze 150g) and with a favourable response to a soft launch three months ago, it plans to boost production to 3 tonnes per day by next year."Natural fruit yogurt, introduced for the first time in Indian market by us, is seen as a healthy dessert by the health-conscious Indians in the metros [major cities such as Mumbai and Delhi]," said Himalya International Limited chairman and CEO Man Mohan Malik. Targeted retailers include METRO Cash & Carry, Bharti Walmart, Reliance and Big Bazaar. The move follows a successful launch of plain natural yoghurt in India's large cities last year. Despite exports to the US declining during the recession, Himalya, which also makes frozen vegetables, cheese, bread appetisers, ethnic sweets and neutraceuticals, grew turnover 23.7% in financial year (FY) 2009-10, increasing profits 18.6%.
Exports for FY 2008-9 generated Indian Rupees INR423.3 million (US dollars USD 9.15 million) and domestic sales INR163.7 million (USD 3.53 million). The company plans to increase domestic sales from today's 27% of revenue to 40%.
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| Author: | Zachariah, Mini |
|---|---|
| Publication: | International News Services.com |
| Date: | Jun 1, 2010 |
| Words: | 221 |
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