Food & Agro Industry

8/12/2019 Food & Agro Industry

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REPORT ON

AGRO AND FOOD PROCESSING INDUSTRY

Indian Institute of Management Indore Post Graduate Programme at Mumbai

Group1

Adip Daniel (2013PGPM001)

Atul Katiyar(2013PGPM012)

Indranil Ganguly(2013PGPM025)

Rachit Pradhan(2013PGPM039)

Ria Singhal(2013PGPM046)


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EXECUTIVE SUMMARY:

The agro and food industry plays an important role in contributing to the development of

the economy. This industry is particularly seen as a potential source for driving the rural

economy as it encourages symbiotic relationship between the consumer, industry and

agriculture.

The Indian food services industry has witnessed strong growth over the past few years

.Indian food industry currently stands at Rs 247,680 crore (US$ 39.71 billion) and is

expected to peg the Rs 408,040 crore (US$ 65.41 billion) mark by 2018, registering a

growth of 11 per cent, according to a report titled 'India Food Service Report 2013' by

National Restaurant Association of India (NRAI). Domestically spending on food

products forms 21% of the gross domestic product of the country(2010 figures). In terms

of consumer spending it takes up 31% share of the consumer's wallet.

In order to ensure the growth potential sector, the Government has initiated extensive

reforms. Some of them include amendments to certain existing laws such as amendment

of the Agriculture Produce Marketing Committee Act, implementation of the National

Horticulture mission etc. To promote investments in this sector, the Government allows

100% FDI in the food processing and cold chain infrastructure segments. In spite of the

initiatives taken by the Government, productivity is very low in the country. However,

still the industry is showing a strong upward trend, given the rising disposable incomes of

a growing population, a greater number of younger people, the growth of consumers in

smaller towns and an increased propensity of eating outside home.

With a growing agriculture sector, healthy livestock, and cost competitiveness, India is

fast emerging as a sourcing hub of processed food. The Agro and Food processing

industry has become a catalyst for the development of Indian agriculture and is of

enormous significance to development. According to CII figures, the food-processing

industry has the potential of attracting US $33 billion investment in 10 years and will be

in the process of generating employment to the tune of 9 million man-days. Hence this is

clearly a very attractive sector for investment and offers significant growth potential to

investors.


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Table of Contents

Topics Page No.

Overview 4

Technological Trends and Major Innovations 8

Merger-Acquisition Activity 9

AnalystsViews 10

Major Players Profile 12

Government Regulations and Policy Changes 16

Impact of Union Budget 2013-14 17

Implication of International Treaties such as WTO/FTAs 18

Competition from Foreign Firms, FDI, Imports, 19Opportunities in Overseas Market

References 21


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Overview

The actual market size of global food and agro products was estimated to be US $ 4,140.3

billion in 2005.

The estimated size of the global market was around $ 3660 billion in 2005 (not

considering tobacco industry which constitutes about 11%) and estimated to grow to $

4320 billion in 2010 with CAGR around 3.35%.The Current global food and agromarket

size in 2013-14 is $ 4876 billion.

Indias share in global food and agro market is $ 300 billion which is approximately 6%

share in global food and agro market.

Growth Rate and Market Size of Global food and Agro Industry

Source: Enhancing firm level competitiveness in Indian Food and agro processing

Industry, Deloitte, August 2009

India is the second largest producer of food next to china and has the potential of being

the biggest with the food and agricultural sector. The food processing industry is one of

the largest industries in India ranked 5thin terms of expected growth, production,

consumption and export.


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Key Facts of Indian Food and Agro Industry:(Sources: Annual Report 2010-11,

Ministry of Food Processing Industries (MoFPI)

1) Indian food and agro market is estimated to be around $300 billionby 2015and the Food processing industry in particular is estimated to be worth $67

billionand expected to increase to $175 billionby 2025.

2) Agricultural exports amounted to $23.2 billion with 1.7% share of world

trade in 2010.Exports of agricultural products are expected to account for 5%

of worlds agriculture exports by 2014.

3) India is among the top 15 leading exporters of agricultural products in the

world.

Key Segments of Indian food and Agro Industry

1) Food Grains:

3rdlargest producer of food grains producing 250MMT annually Emerged as worlds top rice exporter overtaking traditional leaders, Vietnam and

Thailand.

Current production price of food grain market stands at 258 billion and isexpected to reach $344 in 2025.

Sources: Department of Agriculture and Co-operation FAPRI Agri Report,2009

2) Spices:

Total production of spices was 4 MMT and area cultivated for the same was 2.5million hectares.


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Export of spices is expected worth $5.6 billion by 2020 Annual Production of spices market was around $ 18 billion in 2012-13. Largest producer of ginger and cardamom.3) Fruits and Vegetables: Indias share in global vegetable production is around 15.5% of 890 MMT

and 10% of 500 MMT of global production of fruits(excluding melons)

Exports of fruits and vegetables worth $26.35 billion and $12.21 billionrespectively.

Sources: (APEDA, Department of Agriculture and Cooperation)

4) Dairy products: Largest producer of milk in the world. Indian Milk production accounts for approximately 15% of global milk

production

Annual production of Indian Dairy Industry was estimated at $60 billionin 2012-13.

5) Flowers

India exported $ 48.5 million to over 90 countries in 2010-11 Flower production was distributed with 1MMT of loose flowers and 69 MMT of

cut flowers.

Major importers are USA, UK, Netherlands, Germany and UAE. Current Indian Floral Industry stands with an annual production of $ 95.42 billion.6) Processed foods and Beverages

Currently Worth around $67 billion and expected to increase to $175billion by 2025.

6% of Indian produce is processed.

Present Trends

Low food prices have enabled consumers to purchase high-priced specialty foods,

organic foods, and store-prepared meals. It has also allowed consumers to spend far more

on many non-food items. Indeed, food retailers have struggled to offer higher value

products in order to continue growing.


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Future Trends

Some of the trends that can shape the sector are as follows:

1) Farm Friendly: Increasing demand for organic foods

2) Flavor zing: Demand for international flavors set to rise

3) Demand for Low fats and carbs food:

Demand for food with less calories, transfats and allegen free foods

4) Natural goodness: Higher consumption in fresh fruits, vegetables and salads.

5) Functional Food:Demand for healing foods products like nutraceutial food products.

Major Events related to industry in last 2 years1) Agriculture and Horticulture National Summit, July 2012

2) Summit on Mega Food Parks organized by ASSSOCHAM , November 2012

3) Agro Tech 2012, December 2012

4) National Summit on Organic Farming product, March 2013

5) Indian Agriculture Tech & Food pavilion International Agricultural Fair, May 2013.


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Importance to the Indian economy

The total size of Indian agrofood Industry is estimated to be around $291billionand expected to touch 33400 crores by 2015(FICCI- EY Report 2009).

Annual Growth rate of industry is around 9-12% and provides the employment toaround 3% of working population (14% in developed countries).

48% of Indias GDP is from agriculture in 1950-51. Indian food agro export market at 13.7 Billion has a share of only 1.4% of world

food trade.

Technological trends and Innovations in Food and agro Industry

Challenges arises in the creation and functioning of food and agro industries and for the

need of continued growth we need to go for innovative approaches using different models

for the organizations in India.

1) Amul Cooperative Model:

Ownership here lies with farmers on a cooperative basis. Its a 3 tier organization

structure with primary cooperative at primary level, cooperative union at district level

and cooperative federation at state level.

This model has helped in the efficient distribution network for marketing of milk and

milk products and maintains the supply chain network.

Changes in Technological trends include development of new products, processing

technology, and measures to enhance milk production and quality and e-commerce.

2)Suguna Poultry: Model was called the contract broiler farming or a form of franchise

farming wherein the farmers who own the land and have access to resources such as

water ,electricity and labor. Processes of growing the chickens are standardized and mustconform to exacting standards laid down by suguna. This protects the interests of both

farmers and integrators (Suguna).This model benefitted large numbers of rural

households improving their lives with innovative business model by assuring growing

charge/cost and incentives.


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Technological trend changes includes advanced R & D centers, feed mills, veterinarians,

scientists and other professionals

3)ITC e-Choupal

The model increased the efficiency in the procurement of agricultural commodities

resulting in value creation for both company and farmer.

It has created value by taking internet penetration to remote villages, making global

commercial contact possible where infrastructural, economic and social limitations has

made this impossible.

Offers multiple services under one roof of marketing platform- shop for agri-equipment

and personal consumer products, insurance counters, pharmacy and health center, agri

extension clinic, fuel station and a food court.

Technological changes included IT enabled rural procurement, information and

marketing channel through villages.

Merger - Acquisition activity in the industry

Agro and food processing industry has firms working all over the world and having

different products. Industry exhibits all kind of merger and acquisition activities i.e.

among two small size firms to have a bigger impact collectively, among two bigger firms

while entering in a new market or while launching a new product, between small size and

a conglomerate usually while entering into a new market or to dispense off an

underperforming product, to increase the shareholders stake in the firm. Below is given

the list of ten biggest mergers and acquisitions in this industry till date.

Kraft foods announced distribution of 89% of its shares to shareholdersamounting to $60.5bn when Altria group announced to spin off its majority stake

in Kraft foods.

Anheuser-Bauscha United states company was acquired by In Beva Belgianentity in the year June, 2008 for $60.4 bn.

Kraft foodsdistributed shares worth $ 30m to the shareholdersin Febuary, 2013when few public sector entities spanned off their stakes.


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HJ Heinzwas acquired by an investment consortium partnered by BerkshireHathaway and 3G capital Partnersin February, 2013 for an amount $ 27.2 bn.

Unilever in May, 2000 acquired Bestfoodsfor an amount of $23.6 bn. Anheuser-Busch Inbevcompleted its combination with Grupo Modelo SAB de

CVin May 2012 for an amount of $ 20.0bn.

American Tobacco giant Philip Morris in May, 2000 bought Nabisco holdingscompany for $ 19.3bn.

LArche Green NVacquired Scottish And Newcastle for $ 18.6 bn. Unileverbid for increased stake in Hindustan Unilever Limited to 23% for $

5.4bn in 2013.

Major players of this sector have grown through extensive mergers and acquisitions.Pepsico has grown by acquiring companies such as: Pizza Hut, Inc, Kentucky Fried

Chicken (KFC).1985, Mug Root Beer.1986, Tropicana Products from Seagram Company

Ltd, South Beach Beverage Company, 2000, Stacy's Pita Chip Co.2002, The Quaker

Oats Company.2001, The Pepsi Bottling Group, Inc. and Pepsi Americas, Inc. Nestle

growth history includes recent mergers and acquisitions such as:

It acquired Ralston and Purina, Gerber in April 2007, Kraft Foods frozen food pizza in

January 2010, acquired Pfizer and Novartis medical nutrition product manufacturing,

acquired Dreyers and became the world leader in ice-cream. Nestle has a joint venture

with Coca Cola under the name Business Partner Worldwide (BPW) selling the Nestea.

AnalystsView Of The Food And Agro Based Industry:

1) The Indian Food Industry - Crouching Tiger : Article by a business consulting firm

Frost and Sullivan

This article by a prominent business consulting firm analyzes the Indian Food industry as

a whole. At the outset, the author outlines the fact that a few years ago India had the

capacity to become the food factory of the world. However presently growth of this

sector has been reduced due to a host of problems like poor infra structure, restriction in

production facilities, arcane production techniques etc.Against this backdrop however,

there are some specific segments in the food and agro industry which are booming like


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Dairy, Wheat, Fruits and vegetables sectors etc and the article suggests to place special

emphasis on improving their performance.

a)Recommendations for the Dairy Segment :

The Dairy Segment has a low cost base and is almost a necessity which gives it an added

competitive edge. Thus it is subject to high growth and is capable of giving back

immense returns.

b)Recommendations for the Wheat Industry : It is projected to be a major export earner

for the country.

c) Recommendations for the Fruits and vegetables industry: Suggests measures to reduce

the wastage in fruits and vegetables that occurs. Requires capital inputs for food

processing.

d) Recommendations for the Distribution Segment : Suggests infusion of capital inputs

for quality warehousing and distribution.

2)Bottlenecks in Indian Food Processing industry - Survey by FICCI in 2010 :

This article attempts to trace the reasons why the Indian Food Industry is still facing

challenges in spite of continued Government support. It lays down the challenges faced

by the industry and then offers some recommendations which are as follows:

a)Overcoming long and fragmented supply chain : Suggests the implementation of

contract farming.

b)Providing impetus to logistics and supply chain sector : Suggests providing Industry

status to this sector and the forming of a separate Ministry for Supply chain and Logistics

Sector. Also suggests providing incentives to those involved in this sector.


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c)Formulation of national Level Policy on Food processing : Recommends a

comprehensive policy to ensure private sector investment in infrastructure development,

up gradation of quality and give further incentives to the food processing sector.

Major Players Profile (Domestic):

NESTLE INDIA:

Key productsare: Beverages, Dairy/Ice creams, Prepared food/ Snacks, Sugar and

confectionary, Bakery

Nestle SA holds 62.76% market share.

Competitors: GSK, Britannia, Rei Agro, KRBL

Relative Strengths: Quality and Trust

Regional dominance: South Asia

Nestle India is listedon the Stock Exchange, Mumbai, National Stock Exchange of India

Ltd.

Market Capitalization: INR 48993.16 cr.

Performance Indicators FY 2011-12 (in Rs. Cr.) FY 2010-11(in Rs. Cr.)

Sales Revenue 8326.55 7490.82

Net Assets 2848.60 2244.83

EBITDA 1856.37 1566.49PAT 1067.93 961.55

Adapted from: www.moneycontrol.com

Profilesof Key Management personnel: (Source: www.businessweek.com)

Antonio Helio Waszyk (Chairman)

Mr. Antonio Helio Waszyk served as Managing Director of Nestle India Ltd.from October 1, 2009 to October 1, 2013.

He joined the Nestl Group in Brazil in November 1977 and developed his earliercareer in the technical and R&D functions, highlights being in 1988 as Technical

Manager- Nutritional Products in USA.


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In September 2002, he was appointed Deputy Managing Director and TechnicalHead for OSEM Israel, until his promotion to his previous position as Head of

Food SBU in November 2004.

Mr. Waszyk has been Chairman of Nestle India Ltd. since October 1, 2009. He has been Chairman of Nestl Lanka PLC. since October 15, 2009. He has been a Director of Nestle India Ltd. since October 1, 2009.

Shobinder Duggal( Director-Nestle India Ltd.)

Mr. Shobinder Duggal has been Director of finance and control at Nestle IndiaLtd. since May 10, 2004.

Mr. Duggal is well qualified, has had a distinguished career with Nestle India Ltd.and experience in diverse areas of finance, both in India as well as in Switzerland,at the Headquarters of Nestl S.A., Switzerland.

BRITANNIA Ltd:

Britannia holds 38% market share.

Key productsare: Bakery, Dairy/Ice-creams

Britannia India is listedon the Stock Exchange, Mumbai, National Stock Exchange of

India Ltd.

Market Capitalization: INR 9966.89 cr.

Performance Indicators FY 2012-13(in Rs. Cr.) FY 2011-12(in Rs. Cr.)

Sales Revenue 5612.39 4964.51

Net Assets 833.17 548.19

EBITDA 424.15 330.54

PAT 233.87 186.74


Profileof Key Management personnel: (Source: www.businessweek.com)

Nusli N Wadia( Chairman & MD)

Mr. Nusli Neville Wadia, Esq., B.Sc., LL.M. serves as Managing Director andChairman of Nowrosjee Wadia & Sons Ltd.

Mr. Wadia served as a Joint Managing Director of Bombay Dyeing &Manufacturing Co. Ltd. since 1970.


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He serves as the Chairman of the Board for Britannia Industries Ltd. He has been an Independent Non-Executive Independent Director of the Tata

Steel Limited since August 29, 1979.

Major Playerss Profile (International):

PEPSICO Inc:

Key productsare: Beverages, Prepared food/ Snacks

In 2009, PepsiCo Snacks held 39% of US market.

Competitors: Coca Cola, Nestle SA, DPSG, Kellogg

Relative Strengths: Marketing

Regional dominance: USA

PepsiCo is listedon the New York, Chicago and Swiss Stock Exchange.

Market Capitalizationin Sep, 2013: $122.79 bn

Performance Indicators FY 2011-12 (in USD) FY 2010-11(in USD)

Sales Revenue 65,492mn 66,504mn

Net Assets 74,638mn 72,882mn

EBITDA 9112mn 9633mn

PAT 6214mn 6462mn



Indra K. Nooyi( Chairman)

Ms. Nooyi graduated from Madras Christian College in India with a degree inChemistry, Physics and Math and earned a Master's Degree in Finance and

Marketing from the Indian Institute of Management in Calcutta and a Master's

Degree in Public and Private Management from Yale University's School of

Organization and Management. She has been the Chairman and Chief Executive Officer of PepsiCo, Inc. since

May 2, 2007 and since October 1, 2006 respectively.

She served as the President of PepsiCo, Inc. since May 2001 and also served as itsChief Financial Officer and Senior Vice President since February 2000 and also


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Senior Vice President of Strategic Planning, Corporate Strategy and Development

from 1994 to 2000.

Ms. Nooyi served as Vice President and Director of Corporate Strategy andPlanning at Motorola Solutions, Inc. (also known as Motorola Inc.).

She also serves as a Member of Advisory Board at The Yale School ofManagement.

She served as a Director of The Federal Reserve Bank of New York.KRAFT FOODS Inc:

Key productsare: Bakery, Dairy/Icecreams, and Confectionary

In 2009, Kraft foods held 11% of US market share.

Kraft Foods is listedon the New York Exchange.

Market Capitalization: $31.7 bn

Performance Indicators FY 2012-13(in USD)

Sales Revenue 18.3 bn

Net Assets 23.329 bn

EBITDA 632mn

PAT 456mn



W.Anthony Vernon(CEO and Director)

He holds a BA in history from Lawrence University and an M.B.A. from theNorthwestern University Kellogg Graduate School of Management.

He has been Chief Executive Officer of Kraft Foods Group, Inc. since October 1,2012.

He served as Executive Vice President of Mondelez International, Inc. (alternatename Kraft Foods Inc.) from August 2009 to October 2012.

Mr. Vernon served as the President of Kraft Foods North America at Kraft FoodsInc. since August 2008.

Prior to these positions, he served as the Worldwide President of the Johnson &Johnson/Merck joint venture from 1995 to 2001.


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Government regulation and policy changes related to the industry:

The Government has formulated and implemented several schemes to provide financial

assistance for setting up and modernizing of food processing units to encourage the

growth of the processed food sector :

The Centre has permitted under the Income Tax Act a deduction of 100 per cent of

profit for five years and 25 per cent of profit in the next five years in case of new agro

processing industries set up to package and preserve fruits and vegetables.

Excise Duty of16 per cent on dairy machinery has been fully waived off and excise

duty on meat, poultry and fish products has been reduced from 16 per cent to 8 per cent.

Most of the processed food items have been exempted from the purview of licensing

under the Industries (Development and regulation) Act, 1951, except items reserved forsmall-scale sector and alcoholic beverages.

The Union Commerce Ministry has approved a brand promotion campaign for value

added Made in India cashew being launched in the West Asian market by March end.

Sales of up to 50 per cent in domestic tariff area for agro based, 100 per cent export

oriented units is allowed.

Full duty exemption on all imports for units in export processing zones has been done.

Food Safety and Standard Act, 2006

Salient features of the act are:

FSSA will be aided by several scientific panels and a central advisory committee to lay

down standards for food safety. These standards will include specifications for

ingredients, contaminants, pesticide residue, biological hazards and labels.

Everyone in the food sector is required to get a license or a registration which would be

issued by local authorities.

Every distributor is required to be able to identify any food article to its manufacturer,

and every seller to its distributor. Anyone in the sector should be able to initiate recall

procedures if he finds that the food sold had violated specified standards.

Apart from the above, some of the promotional policies undertaken by the Govt. are:


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Vision 2015 Action Plan:The Ministry of Food Processing Industries (MoFPI)has formulated a Vision 2015 Action Plan that includes trebling the size of the

food processing industry, raising the level of processing of perishables from 6%

to 20%,increasing value addition from 20% to 35%, and enhancing Indias share in

global food trade from 1.5% to 3%.

Mega Food Parks:According to the website of MoFPI, the Government of India isactively promoting the concept of mega food parks (MFPs) and is expected to set up 30

such parks across the country to attract FDI. The government has released a total

assistance of USD 23 million to implement the Food Parks Scheme. It has, until now,

approved 50 food parks for assistance across the country. The Centre has also planned for

a subsidy of USD 22 billion for mega food processing parks.

Agri-Export Zones:The government has established 60 fully equipped agri-exportzones (AEZs), in addition to food parks, to provide a boost to agricultural and food

processing exports.

Impact of Union Budget for Food and Agro industry in 2013-2014

(Sources: Union Budget 2013-2014

Planned Outlay for the food, agriculture and cooperation has been increased by18% from 17,100 crores to 20,208 crores.

Target for food and agricultural credit raised by INR 1,00,000 crores to INR5,75,000 crores in FY13.

Centrally sponsored scheme on food processing is to be started in co-operationwith states in 2013-14.

2242 crores project has been launched with World Bank to improve productivityespecially in dairy sector.

Implication of International Treaties such as WTO/Free Trade Agreements for the

sector

The WTO Agreements which affected Food Processing and Agricultural Sector, have

been described and elaborated as below:

1. Agreement on Agriculture:This agreement involved commitments to reduceexport subsidies, domestic support and import duties for agricultural products.


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The primary aims for the agreement were to provide a more liberal market access,

Reductions in Tariff from base level to bound level over a period of 6 to 10 years,

and expansion of minimum access tariff quotas from 3% to 5%.

Example: India has a Bound Rate of 100% for Primary products, 150% for

processed products and 300% for edible oil.

2. Agreement on Sanitary and Phytosanitary:This agreement includes provisionson control, inspection and approval procedures of different food and agro

products based on International Standards. This agreement also involves

Certifications such as CODEX, HACCP and ISO. Hazard Analysis and Critical

Control Points (HACCP) is basically a food quality management system,

provided as an important CODEX Guideline for Food Processing Companies.

Example: In India, 0.2 ppm of Lead Content is considered safe, although as per

the International Standards, a value of 0.02 ppm is considered safe.

3. Agreement on Technical Barriers to Trade:This agreement ensures thatprocedural issues such as Regulations, Standards, Testing and Certifications do

not act as Technical Barriers to trade for Food and Agro Products.

Example: Packaging, Use Of Labels, Gums, Dyes, etc.

4. Agreement on Antidumping:This agreement determines the conditions forwhich a product will be dumped and states all the relevant procedures and

situations.

Example: A Product will be dumped(product price at importing country less than

the product price at exporting country) into a second country only when the

export price of the product from the first country to the second country is less than

the comparable price for a similar product when destined for consumption in the

second country.

As per the WTO agreements, the food processing and agro industries in India, need to

follow international standards and norms in all their producing, storage and packaging


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activities. Also the government of India needs to follow the policies recommended by

WTO for better liberalization and better efficiency of the market.

Competition from Foreign Firms, Foreign Direct Investments, Imports,

Opportunities in Overseas Markets

Indian Food Industry currently stands at Rs. 247,680 Cr. It is expected to grow at an

overwhelming rate of 11% and touch Rs. 408,040 Cr. by the year 2018. This growth is

accounted to a large extent by Foreign Firms involved in FDI. At present India has plenty

of Foreign Food Processing Firms, such as Nestle, Pepsi, Coke, NissinMet, Unilever,

GSK, Walmart, etc. to name a few, providing tough competition to domestic firms such

as ITC, Britannia, Dabur, Amul, Parle, etc. Plenty of Foreign MNCs are planning to enter

the Food Processing Sector and plenty of the existing foreign firms, such as Nissin Foods,

are planning to expand their production capacity and product line. Estimates say, there

has been a total $1970.09 Million FDI from the year 2000-2013 in the Food Processing

Sector.

Years FDI (Rs. Crores)

2000-01 198.13

2001-02 1036.12

2002-03 176.532003-04 510.85

2004-05 174.08

2005-06 182.94

2006-07 441.00

2007-08 632.00

2008-09 462.00

2009-10 1314.00

2010-11 858.00

2011-12 682.30Source: A Research Paper on An Analysis of FDI in Indian Food Processing Industry, by Indian Journal of

Applied Research, Volume 3, Issue 3, dated March 2013.

Imports are not of a significant proportion and exist only for some specialised products

such as Pasta Products, Sauces and Dressings, Honey, etc.

The Indian Food Processing Industry has excellent opportunities in Overseas Markets.

Indian Food Processing Market is primarily Export Oriented. The following table shows


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the Exports of Processed Food along with some of the major components of the exports,

for the year 2012-13.

Heads Amount (Rs. Crores)

Total Exports 41309.04

Mango Pulp 607.96

Dried and Preserved Vegetable 835.57

Other Processed Fruit and Vegetable 2356.07

Pulses 1284.94

Groundnuts 4065.37

Jaggery and Confectionary 21287.00

Cocoa Products 4124.29

Cereal Preparations 2197.77

Alcoholic and Non Alcoholic Beverages 1932.73

Miscellaneous Preparations 1796.14Source: http://www.apeda.gov.in/apedawebsite/six_head_product/PFV_OPF.htm

References

1. Enhancing firm level competitiveness in Indian Food and agro processingIndustry, Deloitte, August 2009, Link:

http://nmcc.nic.in/pdf/deloitte_report_foodandagroprocessing.pdf

2. Annual Report 2010-11, Ministry of Food Processing Industries (MoFPI), Link:www.mofpi.nic.in

3. Department of Agriculture and Co-operation FAPRI Agri Report,2009, Link:www.fapri.missouri.edu

4. APEDA, Department of Agriculture and Cooperation, Link:www.apeda.gov.in5. Company Financial Reports from Link:www.moneycontrol.com6. Profiles of Key Management Personnel from Link:www.businessweek.com7. Food Processing in India, A report on Indian Food Processing Industry, by

Corporate Catalyst India, Link:

http://smallb.in/sites/default/files/knowledge_base/AreportonIndianFoodProcessin

gIndustry.pdf

8. WTO and its Implications in Food Sector, by Hema Yadav, National Institute ofAgricultural Marketing, Link:http://www.on-line-

foods.com/tech_paper/HemaYadav.pdf
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9. A Research Paper on An Analysis of FDI in Indian Food Processing Industry,by Indian Journal of Applied Research, Volume 3, Issue 3, dated March 2013,

Link:http://www.theglobaljournals.com/ijar/file.php?val=MTExNg==

10.Processed Food, by APEDA, Link:http://www.apeda.gov.in/apedawebsite/six_head_product/PFV_OPF.htm

11.Indian Food Industry, by IBEF, Link:http://www.ibef.org/industry/indian-food-industry.aspx

12.Database: Asian CERC, for Company Profiles.
http://www.theglobaljournals.com/ijar/file.php?val=MTExNghttp://www.theglobaljournals.com/ijar/file.php?val=MTExNghttp://www.apeda.gov.in/apedawebsite/six_head_product/PFV_OPF.htmhttp://www.apeda.gov.in/apedawebsite/six_head_product/PFV_OPF.htmhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.ibef.org/industry/indian-food-industry.aspxhttp://www.apeda.gov.in/apedawebsite/six_head_product/PFV_OPF.htmhttp://www.theglobaljournals.com/ijar/file.php?val=MTExNg

Food & Agro Industry

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