New Delhi, Nov 30 (PTI) US-based food major Cargill on Tuesday said it has acquired an edible oil refinery in Nellore, Andhra Pradesh, for USD 35 million and it is likely to be fully operational by May 2022.
“Cargill’s USD 35-million investment to acquire and upgrade the facility will significantly expand its edible oil production capacity and footprint in southern India,” the company said in a statement.
The newly acquired refinery gives Cargill the capability to supply refined palm oil, palm olein, vanaspati (hydrogenated vegetable oil) and sunflower oil, which accounts for nearly two-thirds of the country’s sunflower oil consumption and is currently being underserved, it said.
This facility also allows Cargill to produce and package its own edible oil brands for retailers and to better serve bakery and foodservice customers in the region.
The refinery expands Cargill’s offerings into Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.
Cargill’s edible oils business in India Managing Director Piyush Patnaik said, “This acquisition aligns with our tailored and localised market approach for Asia that will drive global growth in food and agriculture.” Cargill has operated its edible oils business in India since 2001. Cargill processes, refines and markets a wide range of indigenous and imported edible oils and fats, catering to the food industry as well as household consumers.
It offers a host of leading edible oils and fats brands, such as NatureFresh, Gemini, Sweekar, Leonardo, Rath and Sunflower. PTI LUX HRS hrs