Ruchi Soya Industries launches ‘Sunrich’ sunflower oil
India's largest fast moving consumer goods (FMCG) and edible oil manufacturers, Ruchi Soya Industries Ltd has announced that launch of a premium refined sunflower oil under the brand, 'Sunrich' on Wednesday.
The company has set a target of increasing its presence in the market and have a 10 per cent share of the sunflower oil segment by next year. Satendra Aggarwal, COO, Ruchi Soya Industries has said that the company has been offering healthy edible oil during the previous three decades and with the launch of Sunrich, it is planning to establish a significant presence in the sunflower oil segment in India.
At present that sunflower oil market is worth 180 billion in India. South Indian market contributes about 70 per cent of the entire market in the country. The segment is expected to grow at around 10 per cent annually between 2013-14 and 2016-17.
Ajay Malik, VP, South said, "Ruchi Soya has great strength in terms of infrastructure and distribution channels in southern India to make this new product a success. With the launch of the product, we want to satisfy the requirement of housewives by offering them both healthy and tasty oil at an affordable price."