INDIA: PepsiCo to create fruit, vegetable sourcing hub
Pepsico India is building up a strong domestic supply of fruits and vegetables to be self sufficient in producing its own - and competitors' - brands in the Asia region.
Last year Pepsico signed an MoU with Punjab Agro Juices (PAJL) for processing kinnows - a variety of citrus fruit resembling oranges - at a 400-ton-per-day capacity plant set up by the state government in Hoshiarpur.
"As the market for juices and juice-based drinks is growing at over 25% (per year in India), there is a need to build domestic capability. In the first phase, the idea is to become import competitive," said PepsiCo India's export, agriculture and external affairs executive director Abhiram Seth.
Pepsico plans to cut down imports and make India a sourcing hub for other international markets like the Middle East and Asia.
"We expect to meet all our domestic requirements of juice concentrates within one year and start exporting not only to PepsiCo but also other players," Seth said today (26 February).
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