Ruchi Soya forays into sunflower oil market in Odisha

FMCG company Ruchi Soya Industries Ltd today launched its refined sunflower oil brand 'Sunrich' in Odisha with a plan to capture 15 per cent market share by 2016.
The company plans to take its share for Sunrich to 10 per cent in the next one year and to 15 per cent by 2016 in the sunflower oil category in Odisha, said Ajay Malik, Assistant Vice President, Ruchi Soya Industries Limited.
Ruchi Soya is currently the market leader in the cooking oil category with the largest retail penetration of about seven lakh retail outlets.
Sunflower oil market in India has been growing fast due to high growth of income, increasing trend towards spending, better living standards and growing health consciousness among consumers.

The current sunflower oil market in India is over Rs 180 billion, of which, South contributes around 70 per cent, followed by West, North and East. This is expected to grow with a CAGR of around 10 per cent during 2013-14 to 2016-17, he said.
The Sunflower oil market in India is increasing rapidly. India at present is able to meet only less than 20 per cent of its demand for sunflower seeds from the domestic market while the balance comes through imports.