J L Morison launches Corbonell olive oil

The company has tied up with eminent chef, Sanjeev Kapoor to promote the product, which was launched here in the presence of the Spanish Consul General and other top group officials.     

"The olive oil market in India is very minuscule at present, but we hope to have a good market for the brand and the product over the next couple of years," J L Morison (India)'s Executive Director Bipin M Vengsarkar told reporters here.     

Currently, the olive oil market is pegged at Rs 110 crore, with its consumption capacity pegged at 2,500 tonnes.     

There are around 18-20 olive oil brands available in the market.     
"At present, its market is growing at a pace of 35 per cent but we expect it to double in the next two years," Vengsarkar said.     

The group would initially concentrate on 8-10 big markets, before tapping other potential markets across the country, Vengsarkar said.