Borges, Olive oil manufacturer from spain has entered the Indian Market!!

24th June 2010

With a view to capturing a 20 per cent share of an estimated 4,500 tonnes of olive oil market in India over the next three years, FMCG major Borges India plans to set up olive plantations in the country, besides targeting a turnover of Rs 100 crore by 2013.

The company, which is in talks with the governments of Rajasthan, Himachal Pradesh and Punjab for plantations, has received positive response, Borges India Managing Director Rajneesh Bhasin said here.

''Plantation of olives in India will reduce the comparative cost price. It will result in a huge employment opportunity. It will contribute to the society and help us to partner with various people in the value chain,'' he said.

In the next three years, the company is looking at capturing a 20 per cent share of the estimated 4,500 tonnes of olive oil market in India, which is currently dominated by domestic player Leonardo Olive Oil, NatureFresh Oliante olive oil and Del Monte, Mr Bhasin added.

The Managing Director said the current olive oil market size is expected to touch around 9,000 tonnes per year by 2013.

By value terms, the market size is around Rs 180 crore and can grow up to Rs 400 crore by 2013, Mr Bhasin said.

Talking about the sales, he said the company is targeting a to achieve a turnover of Rs 100 crore in the next three years.

Olive oil segment, which is growing a Compound Annual Growth Rate (CAGR) of 25 per cent, is still a very niche market in the country, he said. Mr Bhasin said the company plans to spend about Rs 60 crore on marketing of its products in the next three years. The 700 million dollar company, which had set up a 100 per cent Indian subsidiary last year, plans to introduce other products like pop corn, table olive, vinegars and dry fruits later in 2010.

''India and China are the next big opportunities which Borges is looking into. The Asia-Pacific region is a huge growth engine for the company and India will be a big focus market for us,'' Mr Bhasin said. The company has already tied up with several modern retail chains, like Big Bazaar, Metro, Hypercity and Nature's Basket and its products will be available in two weeks time. ''In the initial phase, we are looking only at six metros. Within a year, we plan to expand our distribution to 36 cities and towns and have a pan-India presence,'' he said. Currently, the company is sourcing its products from Spain.


News & Articles

6th China International Exhibition of Olive Oil & Edible Oil

Oil China 2010
Agriculture & Food
Date: April 24-26, 2010
Venue: Shanghai Exhibition Center
(6th China International Exhibition of Olive Oil & Edible Oil) is fully supported by the Ministry of Agriculture and China Council for the Promotion of International Trade (CCPIT).

Event Profile

Oil China, as the only professional international exhibition of olive oil and edible oil in China, offers the most direct and efficient platform for producers, exporters, importers, distributors, dealers, and agents to meet each other and expand business in China. So far, Oil China has become the first choice for exporters to enter the Chinese market. It has attracted more than 1,000 exhibitors & Country Pavilions and 50,000 visitors all over the world. Building on the success of previous five editions of Oil China, A series of activities have been devised for Oil China 2010:
~ Country Day (according to some Country’s request)
~ 5th China International Olive Oil & Edible Oil Forum
~ 5th China International Olive Oil Competition and Awarded Olive Oil Model Show
~ 2nd China International Olive Oil & Edible Oil Gourmet Festival
~ Report Conference of Past and future 5-year Situation of Chinese Olive Oil Market
~ Buyers and Sellers Meeting (BSM)
~ Enterprisers’ Dialogue Summit
Olive Oil Competition is part of Oil China 2010. Till now, over 200 companies from Italy, Spain, Portugal, Australia, Greece, Chile, Morocco, Kingdom of Saudi Arabia, Peru, Argentina, and China have participated in previous competitions.

Visitor's Profile

~ Distributors, agents, importers and traders from China and neighboring countries in the sectors of edible oil, food, health care, hotel & restaurant, gift, cosmetics, baby & infants, agedness and other related sectors;
~ Purchasers & Quality observer from department store, supermarket, food store, edible oil store and other stores;
~ CEO, Purchasing managers, cooks and chefs from restaurants, hotels, bars
~ Olive oil lovers, individual customers, experts, scholars and so on

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