US agribusiness giant Archer Daniels Midland has announced that it plans to launch its fat-fighting cooking oil in the US under the brand name Enova.
Japanese consumer products company Kao Corporation introduced the product under a different name in Japan in 1999, where it has since become a bestseller. ADM formed a joint venture with Kao in 2001 and Enova is now manufactured in the US. ADM Kao plans to introduce the oil in the Atlanta and Chicago areas in January.
The oil, which is naturally developed from soybean and canola oil, claims to reduce fats in the bloodstream after a meal. ADM is reported to be launching the product in a bid to expand into the lucrative healthy foods market.
ADM says it is confident that it can achieve sales of Enova in the US of over US$150m. The company also plans to introduce the product in Europe in the future, reported Reuters.