Food
Stable government, good rains augur well despite costly cocoa: Mondelez
Mondelez Foods, known for Cadbury and Oreo, anticipates recovery in India due to a good monsoon and stable government. However, record cocoa prices may affect pricing and demand, says Samir Jain, Mondelez India's president.
Coca-Cola India launches ASSP with 100% rPET bottles; 66% less carbon emissions compared to non-ASSP virgin PET
Compared to the conventional virgin PET packaging, in the ASSP, emissions will be reduced by 36% because of the light-weighting of the PET material. The carbon footprints will be further reduced because of the shift from virgin PET to recycled PET in ASSP.
5 reasons to eat raw mangoes this summer
Raw mangoes have a cooling effect on the body, helping to prevent heat stroke and reduce the effects of excessive heat during summer. Their high water content helps in maintaining hydration and keeping the body cool.
Cricketer Muttiah Muralitharan to scale up investments in his Chamarajnagar soft drink unit
Sri Lanka's cricket icon Muttiah Muralitharan met with Industries Minister MB Patil to discuss plans for expanding his soft drink manufacturing business in Karnataka. Muralitharan aims to increase investments in his greenfield unit located in Chamarajanagar district, initially planned at Rs 1000 crore, to Rs 1400 crore. He also expressed commitment to his project in Dharwad for manufacturing beverage cans.
Beverage brand Rockit raises Rs 6 crore pre-seed investment
The company, which provides an array of energy drinks, is focusing on an omnichannel presence starting with North Indian states like the UP, Punjab, Rajasthan and Madhya Pradesh and gradually expanding pan-India.
India largest market for Nestle's Maggi worldwide, 2nd biggest for KitKat
India is the largest market for Nestle globally for Maggi noodles and KitKat wafer, with high double-digit growth. Nestle India's annual report for 2023-24 highlighted the success of Maggi and KitKat in the Indian market.
Coca-Cola offers a $1-billion swig to India Inc families
Coca-Cola India is seeking to sell a minority stake in its subsidiary, Hindustan Coca-Cola Beverages, following PepsiCo's model of outsourcing bottling operations to Varun Beverages Ltd.
Dairy brand Sid's Farm appoints Sunil Potturi as new Chief Technology Officer
Kishore Indukuri, Founder of Sid's Farm said "Sunil's strategic vision and passion for technology perfectly align with our mission to deliver high-quality products and services. Sunil's extensive experience will be instrumental in driving our future growth and innovation."
FSSAI to take action against spice makers after Rajasthan finds some MDH, Everest products unsafe
The Food Safety and Standards Authority of India (FSSAI) is investigating and will take action against several branded spice makers, including MDH and Everest, after health officials in Rajasthan found pesticides and insecticides beyond permissible limits. The state had written to the FSSAI requesting action against several brands of spices due to higher levels of pesticides and insecticides.
India's May palm oil imports hit 4-month high on competitive prices
India's palm oil imports surged by 11.6% in May compared to the previous month, reaching the highest level in four months, driven by its competitive pricing relative to rival oils, according to a statement by the Solvent Extractors' Association of India (SEA). The increased palm oil purchases by India, the world's largest importer of vegetable oils, could bolster benchmark Malaysian palm oil futures.
Costa Coffee posts 49 pc rise in revenue to Rs 152 cr in FY24, adds 67 new stores
British coffee chain Costa Coffee reported a 49 per cent growth in revenue from operations to Rs 151.8 crore in India, Devyani International Ltd said in the annual report. Its gross profit stood at Rs 116.6 crore, up 45 per cent from the year-ago period, it said.
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Nestle India to pay royalty at 4.5% to Swiss parent
The current royalty licence fee remains at 4.5%, net of taxes, under the existing General Licence Agreements with the Swiss parent, who is the licensor. Nestle India stated that the board's approval for the royalty rate will be reviewed every five years, in line with regulatory requirements.
Edible oil prices rise 15% in a month
Companies like Adani Wilmar, Emami Agrotech, and Sunvin Group said while disruption in soyabean oil supplies from Argentina and Brazil is driving prices higher, mustard oil prices have risen as National Agricultural Cooperative Marketing Federation of India (NAFED) and Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) have purchased large quantities of mustard seeds.
Instant flour mixes for dosa, idli, dhokla cannot be classified as sattu; 18% GST should be levied: GAAAR
The company sells flour mixes of gota, khaman, dalwada, dahi-wada, dhokla, idli and dosa in powder form and pleaded that it is akin to Sattu and should attract Goods and Services Tax (GST) of 5 per cent. The GAAAR rejected the appellant's contention, saying that ingredients which go into the making of 'instant flour mixes" are not covered under the relevant GST rules as is the case with Sattu.
NCLT initiates insolvency against Himalayan Mineral Water
The National Company Law Tribunal (NCLT) has approved insolvency proceedings against Himalayan Mineral Waters due to defaulting on a corporate guarantee to Jammu & Kashmir Bank for LeeL Electricals. The tribunal appointed Bhoopesh Gupta as the interim resolution professional. J&K Bank claimed a default of Rs 50 crore, leading to this decision.
Too hot, too good for e-tailers: ACs, ice creams and beauty products' online sales enjoy the heatwave
Consumers are increasingly turning to online shopping for a variety of products like air conditioners, beauty products, and snacks as heatwaves prompt them to stay indoors, especially during peak afternoon hours. Brands like Voltas and Panasonic have witnessed significant growth in online sales, particularly in the AC category. E-commerce platforms are seeing a surge in demand for large purchases like ACs and coolers, with quick commerce becoming popular for daily essentials. Companies like Parle, Mother Dairy, and Baskin Robbins are experiencing a boost in online sales.