The Hindu Business Line : Paramount Farms to set up pistachios unit

New Delhi, Nov. 21 Paramount Farms, California-based marketer of processed and packaged pistachios, said that it would invest around $6 million to set up operations in India that would include setting up of a manufacturing unit in the country.

“We will set up a plant in India before Diwali next year, for which we have already started scouting for a place,” said Mr Dominic R Engels, Vice President, Marketing, Paramount Farms. The company is looking at Delhi or Haryana to set up its facility.

“The market of packaged and processed pistachios market in India is very small and seasonal, mostly used for gifting during Diwali. However, given the current market boom, the segment is also expected to grow at a rapid pace,” he said.

Mr Mark Masten, Senior Vice-President, Sales, Paramount Farms said, “We have identified India as a key growth market for pistachios and we are working closely with retailers and key players in the dry fruit market to bring quality pistachios to Indian consumers. Our commitment to India is long term as we are already in the process of identifying an area for a processing plant in India. We intend to market approximately 5,000 tonnes of pistachio in the next five years.”

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