Business Daily from THE HINDU group of publications
Friday, Jun 23, 2006
Business Daily from THE HINDU group of publications Friday, Jun 23, 2006 |
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Marketing
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Strategy Agri-Biz & Commodities - Rice LT Overseas plans to launch flavoured rice soon Our Bureau
Mumbai , June 22 LT Overseas Ltd (LTOL), a Delhi-headquartered rice export house, plans to launch flavoured rice in the next six months. The company's flagship brand is "Daawat" rice. LTOL is the third largest player in the branded rice market with a market share of 22 per cent. Daawat will initially have three variants (lemon, tomato and mushroom) to start with catering primarily to the Indian taste.
Fast to cook
"Daawat flavour is basically a value-added product in rice. It is sold as rice with a sachet of seasoning and will cook in nine minutes," said Mr V. K. Arora, Managing Director LTOL. The rice will be sold under the umbrella of the brand "Daawat". "This product will be branded keeping in mind the demand of today's convenience food needs. People have become more health conscious and are living a very fast pace life and the same was the reason for development of this product," Mr Arora said. The brand will target customers bound by time constraint such as working members in a family, college students, young office-goers, kids/adult in the age group 9-16 and people who travel abroad, he said. New flavours will be added every 5-6 months and the company plans to launch brown rice in the market shortly. "It is very niche market. It will be cheaper by about 5-7 per cent than basmati varieties," he said. The company also plans to launch a new technology in food service (institutional sales) wherein the rice would have better yield and `no stickiness'.
Tie-up with BPCL
"This is a result of three years of research with a Japanese firm Satake. This is an exclusive tie up for technology and would help the company get an additional revenue of 5 per cent," he said. LTOL has also an exclusive tie up with BPCL for distribution of its rice along with gas cylinders.
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