Canola, olive, rice bran oils hot up market
CANOLAoil, olive oil and rice bran oil are set to replace other refine oil in the region as companies like Dalmia Continental and A P Solvex Ltd producing and marketing these products are gearing up to market them in a major way. Beginning from tying up with regional hotels and holding seminars in clubs, hospitals and health groups, the companies are dedicating a sizeable proportion of their investments towards marketing. “We will spend Rs 10 crore over 3 years on Hudson canola oil to build awareness and acceptance in India,” said V N Dalmia, Chairman Dalmia Continental Pvt Ltd (DCPL), which is a key player in the retail business of olive oil in the country during the launch of Hudson Canola Oil in Punjab. To sell edible oil that is good for the heart companies are targeting both retail and institutional segments. According to A R Sharma, chairman and managing director of Rs 200 crore A P Solvex Ltd, the country’s largest rice bran oil (RBO) refiner based out of Sangrur, northern Indians prefer the mono-unsaturated fatty oils. “The awareness among doctors, consumer is increasing and we are seeing a number of health group actively looking to tie up with us for promotion,” he said. The company is in the process launching its product in the form of bottle (instead of pouch), which will have nitrogen in the headspace of the bottle so that oxidation of the food item does not take place. DCPL products-Leonardo Olive Oil and Leonardo Hazelnuts are currently sold through 50 distributors and more than 1,000 retailers across the country. The company is going to invest RS 15 crore on marketing the products. Simialrly, A P Solvex Ltd, which is currently available across Punjab, Haryana, Himachal Pradesh , Jammu and Kashmir, Delhi, Calcutta and Mumbai, has gone ahead with a joint marketing tie-up with Gujrat base N K Protein Ltd. Both Canola Oil and Rice bran Oil were perfect for Indian cooking since they were standard edible vegetable grade oil with neutral taste and flavour and can be used for frying unlike olive oil according to Mr Sharma. “ With nutritional labeling to become compulsory from 20th Feb’2008, a number of regional and national players, recognising the health benefit of rice bran oil, have started tieing up with us,” said Mr Sharma .The company is currently providing rice bran oil of Pepsi for manufacturing Kurkure and chips. The rice bran oil market is slated at 2 lakh tonnes annually and India is expected to import about 2,300 tonnes of olive oil in the current year. According to Mr Dalmia, the company expects a sale worth Rs 3.75 crore by selling 150 tonnes of Hudson Canola Oil this year. DCPL would roll out Olive oil based sauces, dressing, coconut water, non-alcoholic beer, table olive and Leonardo Gold oil to diversify its product portfolio in the near future.