FMCG firm Emami Agrotech plans to ‘strongly invest’ in its soyabean and mustard edible oil categories and strengthen its distribution and marketing.
Krishna Mohan Nyayapati, Director of the company shared that Emami Agrotech aims to increase its soyabean and mustard oil distribution reach to around five lakh direct outlets and invest in e-commerce and modern trade, which are expected to significantly contribute to the brand's growth going forward.
Emami recently rebranded its edible oil brand, Emami Healthy, and Tasty to establish itself as a modern brand and stay relevant in the consumer space. The company also launched a new variety of its Soyabean oil and shared that with this relaunch it expects to achieve a business turnover of Rs 5,000 crore within the next 3-5 years. Presently, the brand has a turnover of under Rs 2,000 crore, shared Nyayapati.
Talking about edible oil prices, he said that the costs have been witnessing a slight increase over the last few weeks on account of strong festive demand as compared to the stabilized prices in the last month. He expects the increase to continue till Holi and stabilize around the current price range.