Dalmia-Jain group company Dalmia Continental introduces edible canola oil in India

Dalmia-Jain group company Dalmia Continental that makes makes olive oil has launched the Hudson brand of canola oil in India, which it says is healthy for the heart.

V N Dalmia, chairman, Dalmia Continental Pvt Ltd told reporters at the launch of the new edible oil brand that canola, which is primarily grown in Canada, is a heart-care cooking oil as it has been tested to have the lowest content of saturated fats among all oils, high level of monounsaturated fats and antioxidants.

For the first year the company expected modest sales of Rs3.75 crore from the sales of 150 tons of Hudson Canola oil, and thereafter, a compounded growth rate of 140 per cent with the sales of 130,00 tons of oil with estimated sales of Rs250 crore by 2012.

The market size of canola oil in India is just 200 tons which is expected to grow to 26,000 tons valued at Rs500 crore in the next five years, Dalmia said.

He said the company had decided to invest Rs25 crore in product development and strengthening the marketing network, during the next three years. The product is currently available in three sizes priced at Rs65, Rs260 and Rs675 for 500 ml, 1 litre and 3 litre packs respectively.

During the coming months, the company would also enlarge its product portfolio with the launch of a wide range of product including premium grade olive oil, packaged coconut water, olive oil based sauces and non-alcoholic beer, he added.