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Synthite group, which has recently forayed into FMCG market with curry powders, masalas and spices, is all set to enter the Gulf market with its products under the brand name Kitchen Treasures.
Ashok Mani, CEO, Kitchen Treasures CEO said that the first shipment to UAE was scheduled for end February and the company will offer about 25 products to the Gulf market, including two non-vegetarian pickles.
The curry powder and masalas market in the Gulf region is estimated to have a volume of ₹200 crore, with the UAE market alone accounting for nearly half of that. The company will also offer some Arabic masalas for Gulf markets produced in the Kolenchery unit and also focus on the domestic and the entire West Asian markets in the seasoning segment, he said.
The ₹1,400 crore Synthite has taken steps to have a strong presence in the FMCG segment. “Over the next two years we will have 50 or more products in the mass retail segment”, he added.
The 43-year-old group is a world leader in the oleoresins market with a 30 per cent share, and presently exports to 85 countries. In order to ensure raw material with the least amount of pesticide, the company has taken the contract farming route, educating farmers on best practices in farming, particularly in chilli farming.
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