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December 1, 2020updated 09 Apr 2021 7:01am

India’s LT Foods adds new packing lines at Netherlands plant

India-based rice producer LT Foods has invested in a plant in Europe as it seeks to bolster growth in the region.

By Dean Best

India-based rice producer LT Foods is adding new packaging lines at a plant in the Netherlands as part of a five-year initiative to boost growth in Europe.

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  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Mumbai-listed LT Foods did not disclose the investment it has made at the site in Maasvlakte, within the Port of Rotterdam, giving the company an ideal location to import rice from India for distribution in Europe, it said in a stock-exchange notice. The company opened the plant in 2017.

LT Foods, headquartered in Gurugram in Haryana province, supplies a variety of rice, including basmati, Thai Jasmine and long grain rice from the Maasvlakte plant. 

The company said it had grown the business in Europe over the past three years.

Company chairman Vijay Kumar Arora said: “I believe that this investment will allow us to further grow our footprint in Europe and become the number one supplier of the finest basmati from India and Pakistan. Our gratitude goes to our key retail partners who have supported us through this expansion phase.”

Its major rice brands are Daawat, Royal, Ecolife, Kari Kari and Devaaya supplied to markets in Europe, the US and the Middle East.

The business as a group generated revenues in its 2019/20 fiscal year of INR41.8bn (US$568.5m) of which Europe accounted for 14%. Profit after tax amounted to INR1.99bn.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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