Cargill to partner with Indian firm for chocolate plant
US food major Cargill is partnering with a manufacturer in India to launch its first chocolate manufacturing operation in Asia. It is expected to begin operating by mid 2021 and will manufacture chocolate compounds, chocolate chips and chocolate paste, catering to customers in the bakery, ice cream and confectionery industries.
“The facility in west India is expected to begin operating mid-2021 and will initially produce 10,000 tonnes of chocolate compounds,” said Francesca Kleemans, managing director at Cargill Cocoa & Chocolate Asia-Pacific. “We will be supporting the local economy with the addition of 100 new manufacturing jobs.”
The chocolate industry is annually growing at 13-14% in the domestic market, according to Cargill. India is a key growth market for Cargill, said Kleemans. “This new partnership reinforces our commitment to increase our regional footprint and capabilities in Asia to better support the needs of our local Indian customers as well as multinational customers in the region,” she said.
According to her, the consumer preference for chocolate has increased with a shift from traditional sweets to chocolate gifting and year-round consumption of ice cream besides baked goods and premium chocolate products.
Industry estimates the market size of chocolate in the confectionery sector alone to be 260,000 tonnes.
“The per capita consumption of chocolate is low in India compared to global markets, creating a huge potential for growth. Combining local insights from our experience and long presence as a food ingredient supplier in India with our global cocoa and chocolate expertise, we aim to become the leading supplier,” Kleemans said.
With the addition of the new manufacturing plant in India, Cargill is prepared to develop and scale up operational capabilities to support future growth for our customers locally, regionally and globally, said Kleemans.
In India, Cargill markets edible oils such as Nature Fresh, Sweekar, Leonardo Olive and markets wheat flour under the Nature Fresh brand.
Source : economictimes.indiatimes