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Dalmia Continental launches Hudson Canola Oil in India
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Saturday, 18 August, 2007, 08 : 00 AM [IST]
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MV Chandrashekar, Bangalore
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of India's leading brand of olive oil, Leonardo Olive Oil, has laun-ched the Hudson Canola Oil.
Canola is a global phenomenon. In Canada and Japan, over 50% of the vegetable oil consumed is Canola. In the US and Mexico, Canola is the second most preferred oil. While small quantities of Canola have been available in the Indian market in recent years, DCPL will essentially be a monopoly player. DCPL was a pioneer in the field of olive oil when it launched Leonardo Olive Oil in 2003 and undertook a massive educational and promotional campaign that has made Leonardo the market leader. Now, DCPL plans the same success for Hudson Canola Oil, stated VN Dalmia, chairman, Dalmia Continental.
Canola is ideal for Indian cooking since it is a standard edible vegetable grade oil with neutral taste and flavour. It is also extremely healthy, with the lowest content of saturated fats amongst all oils, high levels of monounsaturated fats, antioxidants and Omega-3. Moreover, Canola is the lowest priced oil amongst heart-healthy oils.
Hudson Canola Oil is manufactured for DCPL in Alberta, Canada, by Bunge, a global leader in the agribusiness and food industries and one of the world's largest oilseed processors. Hudson Canola Oil will be packaged in 3 sizes - 500 ml, 1 lt and 3 lt - at an MRP of Rs 165, Rs 260 and Rs 675 respectively. It will be available in both retail and institutional segments. "For the retail segment, we are leveraging our existing nationwide infrastructure for sales and distribution," Dalmia said. Leonardo Olive Oil and Leonardo Hazelnuts are currently sold through 50 distributors and more than 1,000 retailers across the country.
Like Leonardo, Hudson is a brand owned by DCPL. Therefore, DCPL will invest in its product promotion and development. We will spend Rs 10 crore over 3 years to popularise the use of Hudson Canola Oil in the Indian market. In its first year, DCPL expects sales worth Rs 3.75 crore in by selling 150 tonnes of Hudson Canola Oil. Thereafter, DCPL expects a compounded annual growth of 140%, amounting to sales of approximately 13,000 tonnes and revenue of Rs 250 crore in the fifth year.
The Indian market for Canola after the entry of Hudson will be 200 tonnes. It is estimated to grow to 25-26,000 tonnes in five years, the value of which will be approximately Rs 500 crore.
Canola oil is extruded from the seeds of the yellow Canola flower, an oilseed Brassica belonging to a family of plants called crucifers. Canada is the biggest single producer of canola.
Canola is a heart-healthy oil. It provides high levels of Omega-3 polyunsaturated fat. It also contains a beneficial 2:1 ratio of Omega-6 to Omega-3 polyunsaturated fat to balance excessive Omega-6 intake in normal, everyday diet. In addition, it is a rich source of Vitamin E antioxidants.
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