Category — Food Processing

India now grows “Kopi Luwak” coffee

India, Asia’s third-largest producer and exporter of coffee, started producing the world’s most expensive coffee, known as civet coffee or kopi luwak.

In the country’s largest coffee-growing area in the southern state of Karnataka, a start-up firm, Coorg Consolidated Commodities, produces the luxury coffee on a small scale. Narendra Hebbar, one of the founders of the company explained that civet cats eat the flesh of coffee cherries, but not the bean. The animal’s excreta contains the partially digested seeds or beans which are sourced from plantations located close to the forest from where the wild civet cats come to eat the ripest coffee cherries. Natural enzymes in the civet’s stomach enhance the flavor of the bean which makes this coffee unique.

Coffee berries

The Economic Times reports that in India, this specialty coffee sells at $65 per pound  (a cup of kopi luwak can sell for as much as $80); its price includes the cost of sourcing the animal droppings, processing the beans, accounting for the wastage during processing and acquiring quality certifications.

September 15, 2017   No Comments

India’s Seafood Exports to Grow 20% in FY18

India’s seafood exporters expect that exports will grow over 20 percent in FY18 after sales figures touched an all-time high of $5.78 billion in FY17 when USA imported 1,88,617 tons of Indian seafood — a growth of 22.72 percent in quantity from the previous year.

“With exports to U.S. setting new records and the markets’ rising appetite, the industry [in India] is confident of a strong [export] growth for Indian shrimps,” said Rahul Kulkarni, director, WestCoast Group, a leading seafood exporter from India.

Shrimp

Shrimp

Business Standard reports that India’s exporters are pinning hopes on growth in exports with the adoption of the Vannamei or Pacific White variety of shrimp in recent years over the Black Tiger. “The area brought under Vannamei cultivation is on the rise in states like Odisha and West Bengal. There is also emergence of demands from new countries like Canada and Australia,” said G. Mohanty, an Odisha-based exporter.

 

August 31, 2017   No Comments

Mars Food Acquires Tasty Bite in India

Mars Food, the European arm of Virginia-based Mars Inc, has signed a definitive agreement to acquire Preferred Brands International, based in Connecticut. The deal is expected to close by the fourth quarter of 2017, subject to regulatory approvals.

Preferred Brands International, a manufacturer and marketer of ready-to-heat Indian and Asian food products, in turn, owns a majority stake in subsidiary Tasty Bite Eatables which manufactures the ready-to-eat products under the brand name Tasty Bite in Pune, India. The Economic Times reports that the subsidiary will continue to be listed on the Bombay Stock Exchange after the acquisition.

Tasty Bite Products

Mars Food Global President Fiona Dawson said, “Tasty Bite is a fast-growing Indian/Asian dinner time brand. Upon closing of the acquisition, Mars Food will expand our all-natural vegetarian offerings in the U.S. and leverage Tasty Bite’s strong product development pipeline, flavor expertise and strategic sourcing of quality ingredients throughout our portfolio.”

 

August 16, 2017   No Comments

India Approves Amazon’s $500 Million Investment in Food Retail

India’s Department of Industrial Policy and Promotion approved e-commerce major Amazon‘s proposed $500 million investment in retailing of food products in the country. The company will launch a wholly-owned subsidiary in India to stock food products and sell online.

Last year the government allowed 100 percent foreign direct investment for trading, including through e-commerce, in food products manufactured and produced in India. In 2016-17 (December to April) the food processing sector in the country received FDIs of $663.23 million, reports the Economic Times.

Amazon Logo

July 13, 2017   No Comments

U.S. FDA Eases Rules for Shrimp Exporters from India

The U.S. Food and Drug Administration (FDA) removed 140 Indian shrimp exporting entities from its ‘Detention Without Physical Examination’ list. “These exporters are exempted from detention but are subject to random examination by U.S. authorities, and the list is revised from time to time,” said an exporter.

Business Standard reports that in 2016-17 U.S.A. imported 188,617 tons of Indian seafood for $5.8 billion, which was about 22.7 percent greater in quantity over the previous year, and 30 percent higher in dollar terms.

According to the seafood industry, the latest move shows that the U.S. is satisfied with the testing mechanism and food standards maintained by India’s shrimp exporters. The alert has come at a time when the EU still operates enhanced testing of samples — at least 50 percent of consignments, compared to the previous 10 percent.

Shrimp

Shrimp

June 22, 2017   No Comments