Edible oil manufacturer Ruchi Soya Industries today said its board has approved the merger of Mac Oil Palm, a firm belonging to the company\'s promoters\' group, with itself.

Under the scheme of amalgamation and arrangement, Mac Oil shareholders would receive 20 share of Ruchi Soya for every 67 equities held, Ruchi Soya Industries said in a statement to the BSE.

Mac Oil is engaged in the business of development of oil palm plantation and processing oilpalm fruits. Further, the board of Ruchi Soya also decided to pursue the implementation of agreements signed by the company with various state governments for promotion of oil palm plantation in various parts of the company.

Ruchi Soya wants to implement these agreements as part of its procurement rights, the company said.


Source : http://business-standard.com

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Ruchi Soya Industries Limited wins the Dun & Bradstreet – Rolta Corporate Awards 2008 in the Food & Agro Processing sector.

Dun & Bradstreet (D&B), the world’s leading provider of global business information, knowledge and insight, announced the Dun & Bradstreet – Rolta Corporate Awards 2008. The awards felicitated 52 of India’s leading corporate names across sectors. The occasion also marked the launch of the ninth edition of Dun & Bradstreet’s premier publication, India’s Top 500 Companies 2008.

Ruchi Soya Industries Limited was honoured with the Dun & Bradstreet – Rolta Corporate Awards 2008 in the Food & Agro Processing sector.

The D&B-Rolta Corporate Awards 2008, closely tied to D&B’s study on India’s Top 500 Companies 2008, seek to recognize the twin virtues of size and growth in corporate India.

D&B’s India’s Top 500 Companies 2008 was released by Mr David J Emery, President – Asia Pacific, Dun & Bradstreet, who graced the occasion as the Chief Guest. Mr M S Sundara Rajan, CMD, Indian Bank was the Guest of Honour while Mr K K Singh, CMD, Rolta India Ltd. delivered the key note address at the event.

Speaking at the awards ceremony, Mr. Dinesh Shahra, Managing Director – Ruchi Soya Industries Limited, said, “What makes Ruchi Soya unique is the element of the speed & trust embedded in its organisational culture. Enriched with the revolutionary concept of “Health & Wellness”. Ruchi Soya gives you the power to create “Younger & Stronger India” with due emphasis on Quality & longevity. It is the recognition of our growing strength & enhanced sustainability due to people power” 

Presenting the Dun & Bradstreet – Rolta Corporate Awards 2008, Mr David Emery said, “51 new companies have made it to the Top 500 companies list in this year’s edition. This clearly underscores the growth opportunities that the Indian economy has provided over the past three years, opportunities that have been eagerly grabbed by these ambitious and innovative companies. On the other hand, as many as 31 of the 52 sectoral winners have retained their pole position from the last round of the Corporate Awards. This is indeed commendable – particularly as we see a world around us that is changing so quickly. I would like to congratulate all the award winners tonight as well as all those companies that have featured in the Top 500.”





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Ruchi Soya, Japanese Firms Sign Pact for India Plant

India's Ruchi Soya Industries Ltd. said Monday that it has entered into an agreement with two Japanese companies to set up a manufacturing plant for tomato-based food products in Maharashtra state with an investment of 440 million rupees ($8.1 million).

Ruchi Soya, India's largest edible-oil trading company, and Japan's Kagome Co. will each have a 40% stake in the joint venture, while Mitsui & Co. will hold the remainder, Dinesh Shahra, Ruchi Soya's managing director, told reporters.

"We aim to grab a 20% market share [in India for tomato-based food products] within five years from the start of operation," Mr. Shahra said.

India is witnessing rapid growth in its urban population, and the country's rising number of fast-food restaurants and changing eating habits will boost demand for such products, he added.

According to a report released earlier this month by the Confederation of Indian Industry and McKinsey & Co., Indians are now spending much more on high-value foods such as fruits and poultry and the value of the country's overall food consumption is likely to more than double to 22.5 trillion rupees by 2030 from 11 trillion rupees in 2010.

India and Japan have enjoyed strong economic ties for decades, and many Japanese companies have already invested in sectors ranging from autos to manufacturing.

The plant to produce tomato-based food products, including tomato puree, sauces and ketchup, will likely start commercial production by June 2014 and is expected to generate revenue of 3.4 billion rupees in five years, executives from Ruchi Soya and Kagome said.

India is among the top three tomato-producing countries in the world, with annual production estimated around 17 million metric tons.


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Ruchi Soya in joint venture for tomato products

FMCG company Ruchi Soya Industries today signed an agreement with Japan’s Kagome and Mitsui to set up a joint venture (JV), RuchiKagome, to manufacture tomato products in India.

“Currently the total annual demand for processed tomato in the country is two lakh tonnes. We are planning to launch a range of tomato products along with Kagome,” Dinesh Shahra, Managing Director and Founder of Ruchi Soya said. 

The company is looking to gain about 20 per cent market share in this segment in the next five years.

Ruchi Soya will have 40 per cent stake in the JV and the rest will be held by a special purpose company (SPC) created by Kagome and Mitsui. Kagome and Mitsui own 66.7 per cent and 33.3 per cent stakes respectively in the SPC.

Ruchi-Kagome will set up a manufacturing unit in Maharashtra with initial investment of Rs 44 crore and the commercial production will begin from June 2014, Dinesh Shahra said. 

The company is planning to procure tomato directly from the farmers in the western region, he said. 

In the first phase, Ruchi-Kagome will target business-to-business model in markets in and around Mumbai, NCR and Bangalore and is expecting Rs 340-crore revenue, then it would move to the business-to-consumer, he said. 

“We will also look into exporting our products to countries where our JV is present. However, our initial focus will be on the domestic market,” he said.

India is the second largest tomato producer in the world with 17 million tonnes production annually after China. 

Kagome is a leading tomato product company in Japan and supplies food and beverage products in 50 countries. 

Source : http://thehindubusinessline.com

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Ruchi Soya and RF Solutions take the lead on sustainable soy from India

 Ruchi Soya and RF Solutions take the lead on sustainable soy from India 's-Hertogenbosch, The Netherlands, November 19, 2013: India's largest Soy processing Company, Ruchi Soya Industries Limited (Ruchi Soya) is proud to announce its Sustainability Verification Programme during the important and prestigious 2013 edition of the Food Ingredients Europe Exhibition. Ruchi Soya and its exclusive European marketing company RF Solutions, have teamed up with ProTerra Foundation and Solidaridad to engage in this initiative towards long term sustainability in Soy


Mr. Sarvesh Shahra, Business Head, Food and Specialty Products Division said, "The market is clearly shifting towards sustainability and is demanding sustainably produced agricultural products. Ruchi Group is working closely with the famers in India for the past three decades. This is the right time for Ruchi Soya to take the lead in developing India's first long term sustainability program and offer its customers a completely integrated solution. The European Union is a key and priority market for Non-GM Soy products.. Along with RF Solutions, Ruchi Soya will now provide its customers, the right solutions for sustainability and meet all the future demands from India. This initiative will help brighten the lives of millions of farmers across India and farmer livelihood development has always been at the core of Ruchi Soya's corporate philosophy. Ruchi Soya is proud to be a partner in this initiative, our commitment to Non-GM foods is reiterated with this global alliance."

With a proven track record on sustainability programmes in Brazil, Canada and France, The ProTerra Foundation is a valuable partner of the validation programme. Solidaridad has been working for many years in assisting farmers with sustainable practices and has been developing farmer programmes in India now for about 5 years.

The programme's starting point is the purchase of 12,000 RTRS credits followed in the near future through the purchase of 12,000 MT of certified beans. This will help over 10,000 certified farmers in the programme and additional 20,000 farmers who are improving their practices to become certified. The sale of certified non-GMO lecithin and soya meal shall gradually increase in the coming years under the programme. Meanwhile, Solidaridad plans to increase the farmer training programme to reach 70,000 farmers in the coming 2-3 years in India. The certification of groups of farmers and the verification work under the ProTerra Standard will be carried out by Cert ID, a company that has been in the Indian Non-GMO market for over 10 years.

The values estimated for buying the soya beans in India and for fostering the sustainability programme will be acquired and paid to the stakeholders in the programme through the sale of products under Chain of Custody Certificates in Europe. This will enable Ruchi Soya to buy the beans physically from the farmers who are participating in the programme, but most importantly, contribute to improving their livelihood and well being.

About Ruchi Soya Industries Limited:

Ruchi Soya is India's leading FMCG Company, India's number one cooking oil and soya food maker and marketer. Ruchi Soya has a turnover of over US$ 5 Billion and is an integrated player, from farm to fork. Ruchi Soya has secured access to oil palm plantations in India and other key regions of the world. Ruchi Soya is also the highest exporter of soya meal, lecithin and other food ingredients from India. Ruchi Soya is committed to renewable energy and exploring suitable opportunities in the sector.
About RF Solutions:

Established in 2009, RF Solutions introduced the Ruchithin soya lecithin from the Indian company Ruchi Soya Industries Limited onto the European market. Incorporating the sales and marketing experience as well as the technical expertise of RF Solutions. RF Solutions has enabled Ruchi Soya to become the industry leader in full traceable Non-GMO soya lecithin. Other ingredients RF Solutions successfully markets today include Ruchi Soya's fatty acids, tocopherols. soy meal and guar gum split.

If you would like to receive more information:
Yogesh Kolte Saskia Brokx
Head, Corporate Communication, Ruchi Soya Industries Limited RF Solutions
(+91) 98 2030 9121 (+31) 73 6481420 yogesh_kolte@ruchigroup.com info@rfseu.com

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lead on sustainable soy from India

's-Hertogenbosch, The Netherlands, November 19, 2013: India's largest Soy processing Company, Ruchi Soya Industries Limited (Ruchi Soya) is proud to announce its Sustainability Verification Programme during the important and prestigious 2013 edition of the Food Ingredients Europe Exhibition. Ruchi Soya and its exclusive European marketing company RF Solutions, have teamed up with ProTerra Foundation and Solidaridad to engage in this initiative towards long term sustainability in Soy.

- See more at: http://www.noodls.com/viewNoodl/20995620/ruchi-soya-industries-ltd/ruchi-soya-and-rf-solutions-take-the-lead-on-sustainable-soy#sthash.d9Yvq3Bv.dpuf

Ruchi Soya and RF Solutions take the

lead on sustainable soy from India

's-Hertogenbosch, The Netherlands, November 19, 2013: India's largest Soy processing Company, Ruchi Soya Industries Limited (Ruchi Soya) is proud to announce its Sustainability Verification Programme during the important and prestigious 2013 edition of the Food Ingredients Europe Exhibition. Ruchi Soya and its exclusive European marketing company RF Solutions, have teamed up with ProTerra Foundation and Solidaridad to engage in this initiative towards long term sustainability in Soy.

- See more at: http://www.noodls.com/viewNoodl/20995620/ruchi-soya-industries-ltd/ruchi-soya-and-rf-solutions-take-the-lead-on-sustainable-soy#sthash.d9Yvq3Bv.dpuf

India's refined palm oil imports to surge on low prices - Ruchi Soya exec

India's refined palm oil imports to surge on low prices - Ruchi Soya exec

India is likely to import a record 4 million tonnes of refined palm oil in 2013/14 as Indonesian suppliers are offering discount over the crude variety due to favourable export duty structure, an executive at the country's top edible oil buyer said.

Indonesia, the world's biggest palm oil producer, has hiked crude palm oil export taxes and cut the duty on the refined variant, shifting the economics for India, the world's largest vegetable oils importer, to refined product.
India's imports are traditionally dominated by crude oils which are then refined for the domestic market. But cheaper import of refined palm oil is keeping local refining capacity idle.

"Going by the current trend it seems imports of RBD (refined, bleached and deodorised) palm oil would be nearly half of total palm oil imports. Indonesia has duty advantage," Nitesh Shahra, president, refinery division of Ruchi Soya, told Reuters on Friday.

Indonesia has been offering RBD palm oil at a discount of $20 to $25 per tonne over crude palm oil and can offer higher discount to boost sales, he said.
India imported 8.3 million tonnes of palm oil in 2012/13 marketing year ended on Oct. 31, including a record 2.2 million tonnes, or 26.5 percent, of RBD palm oil, the data compiled by Solvent Extractors' Association of India (SEA) showed. (Reporting by Rajendra Jadhav; Editing by Gopakumar Warrier)

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ITC, Ruchi Soya among world’s fastest growing consumer firms

ITC, Ruchi Soya among world’s fastest growing consumer firms

Two Indian companies ITC and Ruchi Soya were among the world’s 50 fastest growing consumer firms during the June 2009-June 2010 period, according to the latest annual report by market research firm Deloitte.

According to the 4th annual report “Global powers of the consumer products industry 2011,” by the firm, India’s ITC Ltd, which sells cigarettes, food and personal care products besides presence in hospitality and paper segments, has been ranked 15th in the list, while edible oil maker Ruchi Soya stood at the 20th position.

The Deloitte report identified 250 largest consumer products companies, based on data available for the 12-month period between June 2009 and June 2010. During the period, ITC’s net sales stood at $4.04 billion at a growth rate of 17.2 per cent, while Ruchi Soya grew by 14.3 per cent with an annual sales of $3.01 billion.

France’s food processing firm Groupe Bigard SA topped the list by growing at a rate of 80 per cent and sales of $6.27 billion for the period.

“Currently, while India is represented by only two companies among the 50 fastest growing consumer product companies, there is a huge potential as large Indian conglomerates in the consumer business sector are witnessing strong growth,” Deloitte in India Senior Director Rajan Divekar said.

He said India’s growth story comes from the increasing consumption power among Indians and the modernisation of retailing. “As the Indian retail industry modernises, the cost of distribution is likely to fall, suppliers will have an incentive to invest in technology and consumers will gain access to cheaper, fresher and safer products,” he said.

While the list was mainly dominated by food, beverages and tobacco firms, most of the companies were from emerging markets, including Latin America and Asia Pacific region. Some of the other well-known global firms which are among the 20 fastest growing companies include Research in Motion, Reckitt Benckiser, LG Electronics and Samsung among others.

The report also highlighted that while there has been an overall 1.2 per cent decline in sales among the top 250 firms across the globe, the 50 fastest growing companies increased sales at a rate of 18.2 per cent.

“Acquisitions served as the primary growth driver for the fastest growing companies. Nine of the first 10 fastest 50 companies made significant acquisitions in 2008 and/or 2009, (and) propelled top line growth,” the report said.


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