Financial Daily from THE HINDU group of publications
Saturday, Jun 10, 2006
Financial Daily from THE HINDU group of publications Saturday, Jun 10, 2006 |
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Marketing
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Outlook Venky's glucose biscuit nibbles at US markets Sudha Menon
Spreading overseas Preparations on to meet US market regulations Expects to launch simultaneously in the US, the UK and Australian markets Already exporting to Dubai, Muscat, Saudi Arabia, Bahrain and South Africa among other countries Has exported over a $100,000 worth of biscuits in the last 3-4 months
Pune , June 9 The ubiquitous glucose biscuit, a tea-time accompaniment in many Indian homes, will soon appear on the retail shelves of supermarket chains in the US, Australia and the UK as Uttara Foods and Feeds — part of the Venkateshwara Hatcheries group — is all set to export the product to these countries in a few months. The company, which launched the Venky's brand of atta some time ago, also plans to extend the branch with a range of products including imported olive oil, pastas, premium cookies and other foods associated with the changing lifestyles of contemporary Indians. Uttara Foods is in talks with several supermarket chains and ethnic Indian stores in the US and has already procured registration from the US FDA, Mr Sanjay Wadhwa, General Manager, Exports told Business Line. "Preparations for meeting US market regulations are at an advanced stage and we expect to launch simultaneously in the three markets," Mr Wadhawa said.
Existing markets
The company commenced exports of its glucose biscuits in February and currently sells in Dubai, Muscat, Saudi Arabia, Bahrain and South Africa among other countries. "We have exported over a $100,000 worth of biscuits in the last 3-4 months and hope to significantly increase volumes once we add US and Europe to our list," Mr Wadhwa said. The company also eyes 10-15 per cent of the Rs 5,000-crore organised domestic biscuits market over the next few years. It currently focuses on the neighbouring states of Gujarat, Karnataka, Chhatisgarh and Andhra Pradesh among others. "Logistics is a key factor in the biscuits business and we don't want to spread ourselves in far-off markets when our production is centralised at Ranjangaon," Mr Wadhwa said. The company currently has 35 metric tonne capacity and will soon expand into other biscuit categories including cream biscuits, he said. "We also plan to import and sell a range of premium cookies to a niche audience, within the next two months," he said.
International foods
Uttara Foods, meanwhile, is also training its sights on the changing palate of Indians who are now experimenting with a variety of international cuisine at home. The company has started off with the popular Italian cuisine and will roll out a range of olive oil (from Greece), pastas and pasta sauces (from Italy) across select outlets in southern and western India over the next few months. "Two-three million dollars worth of pasta alone is imported into the country every month which is indication of the fact that Indians are experimenting with new cuisine in their homes and we want a slice of that market," Mr Wadhwa said.
FMCG sector
With the FMCG sector now on its radar, Uttara Foods will foray into other food categories, including chocolates, in the long term, he added.
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