INDIA: Veetee to enter frozen market
Rice and ready meal food manufacturer Veetee Fine Foods has revealed plans to launch a range of frozen ready meals.
"Convenience foods are becoming more relevant and we are strategically positioned to tap the burgeoning market. Our frozen range will be available in microwavable pouches, a concept we have pioneered in India," said the company's CEO Aayshman Gupta.
Veetee's RTE "curry collection" includes 15 meals. According to Gupta, the company hopes to sell over 2m of them this year.
Around of 80% of the company's total turnover comes from exports to over 50 countries.
India's RTE market is growing at 30% each year with three main players - ITC, MTR and Veetee - accounting for 80% of sales.
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