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Lotus Chocolate to set up cocoa processing plant in 2007
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Saturday, 23 September, 2006, 08 : 00 AM [IST]
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Phani Raj, Hyderabad
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planning to set up a plant for cocoa processing in Baddi, Himachal Pradesh. The plant is being set up to take the tax advantage the State offers and will take up the production mainly to cater to Cadbury's needs. The facility is likely to be operational by early 2007, Dr V Vedha Kumar, CEO, Lotus Chocolate Company told Food & Beverage News.
Lotus Chocolate currently markets its products in Andhra Pradesh, Maharashtra and Karnataka. Karnataka had been a key market for the company almost generating combined sales of Andhra Pradesh and Maharashtra. The company may foray Gujarat and Kerala markets as part of its geographical expansion. Besides marketing chocolates under 'Lotus' brand name, the company manufactures quality chocolate products and cocoa derivatives to Cadbury.
Dr Vedha Kumar, talking about trends in chocolate industry, mentioned compound chocolates are getting recognition worldwide. The concept that initially drew attention in the 1980s was researched by various European companies in Malaysia and other parts of the world. Cocoa butter alternatives were also looked at by companies that were keen on compound chocolates in the past. Lotus Chocolate Company was one of the first companies in India which forayed into compound chocolates, as proprietary food.
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There is also enormous potential for chocolate coated wafers and wafers are going to stay long in the market, Dr Kumar pointed. Chocolate couverture is another area that will be exciting in the years to come, he added.
Lotus Chocolate, established in 1992, saw an opportunity in specialty fat chocolates and tied up with Sunshine Allied Investments Limited, Singapore, which has an expertise in specialty fat chocolates. In 1995 Sunshine Allied Investments Limited merged with Network Foods International Ltd., which is part of the Malaysian United Industries (MUI) Group that subsequently became the majority equity partner in Lotus Chocolate. In 2003, two Hyderabad based entrepreneurs, D Durga Prasad and A Ramakrishna, bought over the total equity share from NFIL, thus making Lotus Chocolate Company Limited, an Indian owned entity.
Over the years, various moulded and panned products under the brand names of 'Kandos' and 'Tango' became popular with consumers in South and Central India. At the same time, the company's range of pure cocoa butter chocolates, and derivatives like cocoa butter and cocoa powder penetrated into the industrial markets as well as bakeries and the top 5 Star hotel kitchens in India.
He said, the company is planning to introduce one product each year. The company besides domestic markets has been exporting chocolates to Nepal and African countries. It also exports cocoa butter to European traders who further sell it to companies in the region. Exports of chocolate companies in India can improve and the companies can compete overseas, if the system becomes more export friendly.
The company's manufacturing facility which is running at its full capacity, is located at Doulatabad, about 60 km from Hyderabad. The machinery has been imported from Germany, UK, Denmark and Italy has been used to generate Cocoa beans and derivatives like Cocoa Butter and Cocoa Powder and moulded, panned and industrial chocolate products. The company operates several warehouses and key markets both for branded and industrial products, Dr Kumar informed
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