Nestlé India, FDA, Uttarakhand NASVI train 1200 vendors in Dehradun
US food ingredients manufacturer McCormick that sells Kohinoor packaged rice in India, shall introduce their McCormick branded spices, herbs, and seasonings for Indian market by year-end.
The American company reported revenue at $4.4 billion in 2016, and is in India since 1994 through various joint ventures. They bought 85 per cent in Kohinoor Speciality Foods India Pvt Ltd for about $115 million in June 2011 and the rest of the stake in April this year.
Managing Director of Kohinoor Speciality Foods, Amit Mehta stated that the company will launch some of the spices and condiments, suited for western food, from the global range of McCormick brand in India by December. He also added that McCormick will now sell products under two brands in India, Kohinoor and McCormick.
Kohinoor, was just limited to packaged basmati rice, will also start commercial production of Indian spices, ready-to-cook recipe mixes such as Biryani and ready-to-eat products by end of this month.
He mentioned that the company will roll out these products in Delhi and the National Capital Region in July and go national by end of the year. Some McCormick branded products will be introduced mainly at modern retail stores in metros towards year-end. Kohinoor branded products will have Indian flavours and McCormick branded products will have western spices.
McCormick reportedly invested more than $150 million in India, and wants to enter the spices market dominated by regional players. Of India’s estimated Rs 40,000 crore spices market, about 15 per cent is branded and dominated by brands such as Catch, Everest, MDH and Ramdev, among others as per a study by Technopak Advisors.
Mehta mentioned that the company would only sell authentic Indian flavours under Kohinoor, and would change the way spices and ready mixes are sold.
The company will be selling smaller packets, and may be individual use pouches, so that consumers can buy as much they want. Besides modern retail and kirana shops, the company will sell through speciality stores like meat shops, and online stores such as Amazon and Big Basket.
McCormick’s International Business President, Malcolm Swift said that as a key emerging market, India presents exciting growth opportunities for McCormick.
The company has invested in India continuously for over two decades and are deeply committed to the ‘Kohinoor’ brand in this market. The goal is to leverage ‘Kohinoor’ brand from a Basmati rice brand to a ‘Rice and Spice’ leader in this market through the passion for flavor.