- By Lynda Kiernan-Stone, Global AgInvesting Media
India’s Mahindra Group to Begin Sale of Edible Oils, Pulses
India’s Mahindra Group is expanding its agribusiness activities, and is planning to enter the edible oil and pulse markets within the next few months, selling oils in consumer packs under the new brand, Nupro.
India consumes approximately 19.5 million liters of edible oils per year, and imports as much as 70% of its supply.
Mahindra’s agribusiness unit is one of the largest in the country, currently exporting fresh produce including grapes, pomegranates, mangoes, and apples. By entering the oilseed and pulse segments, the group will be in direct competition with the Tata Group and Adani Wilmar.
Mahindra has been examining opportunities in the pulses market since 2013, and has been selling to wholesalers under the Finegrade brand since 2014. Within the first year after the group’s retail launch, the group expects to see oilseed and pulse sales of Rs 50 cr (US$7.9 million).
Under the Nurpro brand, the group will be initially selling soybean, mustard, and rice bran oils according to Ashok Sharna, chief exeutive, agri and allied services, M&M. And as a means of retaining control over quality of their oils, the group will be buying oilseeds directly from farmers.
“Our focus is to cater to a niche segment without unadulterated good quality edible oil to enter the organized edible oil market,” says Sharma.