Mumbai, Aug. 7
Agri-business and food company Bunge India Pvt Ltd expects its revenue to increase by 38 per cent in 2006 because of the growth in its existing brands and the launch of a new range of the Dalda brand of edible oils.
Bunge India, a 100 per cent subsidiary of Bunge Ltd, had acquired the Dalda brand from Hindustan Lever Ltd in 2003. US-based Bunge Ltd has a turnover of $24.3 billion (2005).
Rs 1,100-cr turnover
Mr Adhiraj Sarin, Managing Director of Bunge India, addressing the media at the launch of a new range of edible oils, said that in 2005 the turnover of the company was Rs 800 crore and in 2006 it is expected to grow to Rs 1,100 crore.
India is our most important vegetable oil market and one of the four growth opportunities along with Brazil, China and countries of the former Soviet Union, he said.
Veg oil market
Mr Sarin said that India has a Rs 70,000-crore vegetable oil market, having consumption base of 12.5 tonnes. It is growing at the rate of 4.5 per cent per annum. Soyabean oil consumption is 2.9 tonnes in 2005 and it is estimated to grow at six per cent per annum. By 2010 it would be 3.9 tonnes. Bunge's focus would be to expand the edible oil business with special emphasis on soyabean oil, besides expanding the value chain, he said.
No capital investment
Mr Sarin added that in the current year, Bunge India expects more than 60 per cent of its revenue to come from Vanaspati, which it sells under the Dalda brand, and the balance to come from refined oils.
The company does not have any capital investments plans for the next three years and would concentrate more on its marketing efforts.