INDIA: Mondelez to boost local chocolate production
Mondelez has seen "extraordinary growth" in India in recent years
CFO David Brearton said Mondelez did not have the capacity in India to meet the demand for its chocolate.
"In India, our challenge is keeping up with demand for our chocolate," Brearton said. "We've run into capacity constraints after posting extraordinary growth over the past couple of years. We're driving productivity and removing bottlenecks at existing plants to stretch current capacity. And we expect new production lines to come on stream by the middle of next year."
Mondelez's Cadbury arm is the dominant force in India's chocolate market, where it accounts for over half the market.
- Work on sugar could stir more clean-label concerns
- Are consumers getting tired of consuming?
- Rise of prepared foods in US grocers - analysis
- Hershey results, outlook, M&A - the top takeaways
- How are brands organising for e-commerce?
- Nestle, R&R Ice Cream finalise joint venture plans
- Hershey buys company behind BarkThins brand
- Fazer buys European biscuit brands from Mondelez
- Mondelez sees stronger margins, LFL growth
- PepsiCo, Target back campaign for gender parity