New Delhi, India: Cargill, a manufacturer of edible oils, has purchased an edible oil refinery in Nellore, Andhra Pradesh. The $35 million investment will “substantially” increase Cargill’s edible oil production capacity and footprint in southern India, according to the company.
By May 2022, the plant should be completely operating. The investment would help the company fulfill rising customer demand, according to a statement released on Tuesday by the creator of Nature Fresh and Gemini edible oils.
“Over the last few years, we have seen considerable growth in our edible oils business in India. This acquisition accelerates our growth, particularly in southern India, and reflects our commitment to the country and our clients there “Cargill’s edible oils business in India is led by Piyush Patnaik, who is also the managing director.
Cargill will use the newly purchased refinery to supply refined palm oil, palm olein, vanaspati, and sunflower oil, which currently accounts for roughly two-thirds of the country’s sunflower oil consumption and is underserved.
“This plant also enables Cargill to produce and package its own edible oil brands for retailers, as well as better serve regional bakery and restaurant customers.” Cargill’s services are now available throughout Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, thanks to the refinery “In a statement, the business stated.
According to Patnaik, “this acquisition is in line with our specialized and localized market approach for Asia, which will promote global growth in food and agricultural.”
Since 2001, Cargill has been selling edible oils in India.
