23-24 Aug, 2016 - Bali, INDONESIA
Sheraton Bali Kuta Resort
Sheraton Bali Kuta Resort
A joint venture between Wilmar International and India’s biggest palm oil refiner Ruchi Soya, aims to cater to the increasing food demand in India.
The collaboration between Ruchi Soya and Adani Wilmar – part of a joint venture between Wilmar and Adani Enterprises - will own and manage the procurement, sales and marketing businesses of both parties. This will enable the firms to increase efficiency and consolidate costs across logistics, supply chain management, manpower and distribution.
The new company will market and distribute finished products from both companies' manufacturing businesses in India, including oil seeds and vegetables, soya foods, oleochemicals, biodiesel, grains, and castor oil and its derivatives. The joint venture aims to address India's complex agricultural environment, where farm productivity is declining while consumption is increasing with the country's growing population.
"We are very bullish on Indian demand for high quality food products due to its population and economic growth,” said Wilmar Group CEO Kuok Khoon Hong. “The joint venture will be well-positioned to leverage on its strong base in edible oils and capture a good share of this demand to become one of India's leading consumer goods companies."
Managing Director of Ruchi Soya, Dinesh Shahra, said the company was honoured of the partnership. "This joint venture will not only enable us to continue with our core manufacturing operations via toll processing arrangements, but also to capture the synergistic value by working closely together and learning from each other's experience to make things more lean and efficient," he said.
Find out more about the oleochemicals industry at the 4th Oleochemicals Outlook on 23-24 August in Bali.
