Delhi: Set to capitalise on the ''health and fitness''
trend, companies producing olive oil along with olive
oil brands from Spain and Italy are heading straight for
olive oil market in India is estimated at around €4
million in terms of value, corresponding to 2,000 tonnes
of the product in terms of volume.
to Jose Antonio Bretones, economic and commercial counsellor,
Spanish Embassy, olive oil is one of the most natural
forms of cooking oil, which is also extremely healthy.
Given the rapid opening of the market, plans are underway
for several initiatives for enhancing the awareness of
Indian consumers about the goodness of olive oil.
Spanish Embassy, in collaboration with numerous Spanish
olive oil companies, is arranging an event in India at
the end of the month. People from backgrounds as varied
as retail, distribution and even socialites will be informed
about the benefits of using olive oil.
also said that Spanish companies serviced a substantial
60 per cent of India''s olive oil market. Soil and weather
conditions are not conducive to producing olive oil in
India. Spanish companies are said to have allocated a
budget of about €30,000 for generic promotional activities,
and an additional €150,000 for concentrated marketing
plans in India, according to Bretones.
fast emerging organised retail chains are seen to facilitate
the marketing of olive oil brands.
Berio, an Italian olive oil brand has been launched in
partnership with R R Oomerbhoy Pvt Ltd (RRO), an Indian
manufacturer and marketer of edible oils.
to Riyad Oomerbhoy, managing director, RRO, the Indian
company will use its Mumbai unit for bottling the Filipo
Berio brand, and intends to sell around 1.5 lakh litres
of the oil in its first year of operations. 100ml and
200ml packs will be bottled in India, while 500ml bottles
will be imported from Italy. The average price of olive
oil hovers at Rs700 per litre.
Berio, unlike Spanish brands, plans to reach its target
market mainly through becoming a neighbourhood presence
through mom ''n'' pop stores, leveraging Oomerbhoy''s strong
distribution network. Reportedly, RRO plans to adopt the
modern retail chain route at a later stage, when their
presence is more prolific.