India's MTR food plots expansion.

MTR Foods, one of the top five processed foods manufacturers in India, owned by Norwegian conglomerate Orkla, aims to double turnover to Indian Rupees INR5 billion (US dollars USD106 million) by 2012 by focusing on its core business of spices and masalas, instant mixes and vermicelli. Spices and masala account for 35% of the company's revenue, instant mixes contribute to 28%, vermicelli 14%, ready-to-eat 10% with products like beverages, pickles and poppodam (papads) accounting for the rest.

Exports (to the USA, UK, Australia, New Zealand, Malaysia, Singapore, the United Arab Emirates, Japan and Oman) account for 10% of Bangalore-based MTR Foods' business. Sanjay Sharma, chief executive officer, said he wanted his company to expand sales from its south India base across India and abroad: "In exports our growths will come from not only attracting the Indian diaspora but also appealing to the experimental international clientele who wants to try authentic Indian foods. Besides exports, in the domestic market we also reach out to channels that sell through institutions such as the Indian railways, the Indian army and the government of India, as well as HORECA channels to reach out to hotels, restaurants and caterers."

MTR Foods holds an ISO 22000:2005 and a Kosher certification for their ready-to-eat foods in addition to Orkla's own international food safety standards. "Our focus is to ensure that, internally, we have very stringent methods for dealing with all of our raw materials, finishing materials and packaged goods," said Sharma.

The company is investing over INR150 million (USD3.2 million) to upgrade their spice manufacturing facility. "Besides spices, for the vermicelli market, we are taking the outsourcing route that should increase their output to around 1,200 metric tonnes," added the CEO.

Article Details

Printer friendly Cite/link Email Feedback
Author:	Zachariah, Mini
Publication:	International News Services.com
Date:	Jun 1, 2010
Words:	287
Previous Article:	IFC invests in Ukraine meat and dairy production.
Next Article:	Himalya plots yoghurt expansion in Indian cities.