With the commissioning of first ever Canola Oil Plant in India by Jivo Wellness, the Rs 10,000 Crore packaged branded Edible Oil market is all set to heat up. Jivo Wellness – a wellness venture of Akal Information Systems Limited recently inaugurated its new state of the art Canola Oil bottling plant in Delhi. The new plant was inaugurated by Mr. Gerry Ritz, Minister of Agriculture & Agri-Food, Minister for the Canadian Wheat Board, Govt of Canada along with Mr Robert Hunter, Vice-President (Communications), Canola Council of Canada.
On the occasion, Mr. Ritz also launched Jivo Canola Oil in the consumer pack of 1Ltr, 2 Ltrs & 5 Ltrs. Mr Ritz, who was specially here for the inauguration of the first ever Canola oil plant in India, said, ”My heartiest congratulations to Jivo Wellness on the opening of this facility to bring Canola Oil closer to the Indian population who I believe would benefit enormously from the health benefits of Canola. With rising health care costs, each one of us is concerned about our well-being by shifting to healthier foods like Canola”.
Sharing the mission behind Jivo Wellness, Mr RPS Kohli, Director, said, “The mission of Jivo Wellness is simply creating a “Healthy India!” and it intends to bring on table an array of revolutionary wellness products that are simple, easy to afford yet full of value. To begin with, we have introduced Jivo Canola Oil – a new cooking medium for Indian household which is priced almost at par with edible oils available in the market. However, the wellness qualities of this edible oil are far better than other medium available in the market”
Jivo Wellness intends to project Canola Oil as the healthiest oil and make it a Rs 5000 million brand over the next five years. With the belief that this oil would be the ‘kitchen king’ once it enters the Indian market with other edible oils, it endeavours to break the negative label of thinking tagged with oils. The Jivo brand is claimed to be in rich in omega-3 : omega-6 ratio which makes it the best oil from others. These constituents promote good health, lower the risk to heart prone diseases along with reducing the risk to diseases like blood pressure & diabetes. Besides, this makes it the best one is that it has the highest unsaturated good fats which are considered good for health. Jivo Canola Oil is available in diverse packages like 5-litre, 2 liter, and 1 liter bottles and soon would be available in small pouches which have been specifically targeted to the rural group.
Commenting on the market potential for Canola oil in India, Mr Kohli said, “At present per capita consumption of edible oil in India is 11.5 kg/year, way below the world average of 18 kg. Even China is at 17 kg. According to industry estimates, a 4% increase in per capita consumption and a population growth of 1.9% will foresee 21.3 million tons of demand for edible oil by 2015, creating a significant market for brands like us”
Jivo Wellness plan to invest Rs 200 million the first year of operation, and intends an additional investment of Rs 600 million in near future to increase the capacity. The projected turnover would be Rs 1000 million by 2012 and looking at the growth charts, it intends to achieve Rs 5000 million by 2015.