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Debdatta Das

New Delhi, Nov. 9 The UK-based Veetee Foods’ Indian arm, Veetee Fine Foods Ltd (VFFL), producer and marketer of basmati rice in India and overseas, has recently forayed into the Rs 200-crore ready-to-eat category in India.

The company that exports basmati rice to around 50 countries has launched three ranges of its ready-to-eat collection — curry, wholegrain rice and soups and desserts — all ranging between Rs 40 and Rs 60. “With the retail boom, change in modern lifestyle and emergence of nuclear families, the food industry is expected to grow exponentially. Keeping this in mind, the importance of convenience health foods is catching on fast and becoming relevant,” said Mr Aayushman Gupta, Chief Executive Officer, Veetee Fine Foods Ltd.

VFFL, which already has a basmati rice unit in Sonepat, has invested $3 million to set up a food processing unit for the ready-to-eat category within the same compound. “Though 70 per cent of our current sales are from exports of basmati rice, with the introduction of the ready-to-eat ranges we hope the ratio to be around 50:50 within the next two years,” said Mr Gupta.

It hopes to sell around 60 lakh pouches globally and has already started rolling out its products in places such as Delhi, Kolkata, Bangalore, Ahmedabad, Jaipur and Lucknow. It has also tied up with retail chains such as Big Bazaar, Spencer’s, Reliance and In & Out to sell its ready-to-eat range.

On VFFL’s marketing strategy for the newly launched products, Mr Gupta said, “Our primary marketing tool will be our product USP. We are the first one to launch transparent microwave friendly packs that we think will be a great help to the consumer profile we’re targeting. And we are also doing a lot of below-the-line and point-of-sale activities.” VFFL hopes to achieve 25 per cent of its overall revenues from its ready-to-eat range sales within the next five years.

More Stories on : New Products & Services | Foods & Food Processing | Rice

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