The Supreme Court granted Baba Ramdev and Acharya Balkrishna more time to file affidavits in the Patanjali fake advertisements case. The case involves allegations by the Indian Medical Association against Patanjali for disparaging modern medicine and the Covid-19 vaccination drive. The SC also criticized the IMA's president for comments made to the media.
Varun Beverages Chairman Ravi Jaipuria said despite a delay in the Holi festival by 17 days resulting in a delayed seasonality cycle, the company had a reasonably strong overall operational and financial performance in the first quarter of the year.
A non-binding offer has been submitted to buy up to 76% of co at $8.5 bn valuation; 87-year old Haldiram with roots in Bikaner, Rajasthan is India’s largest snack and convenience foods company. Delhi and Nagpur factions of the Agarwal family are merging their snacks and packaged foods business, demerging the restaurant operations.
Overall volumes, which indicate the number of products consumers bought, expanded 5.2% in the March quarter, unchanged from the three months to December. Sales volumes in rural markets climbed 5.8%, and in cities by 4.7%, from a year earlier, data from Kantar showed. Kantar monitors branded and unorganised products, including unpackaged voluminous commodities. Nielsen, on the other hand, tracks primarily branded retail sales.
Hong Kong suspended sales last month of three spice blends made by MDH and one by another Indian company, Everest, for apparently containing high levels of a cancer-causing pesticide. Ethylene oxide is unfit for human consumption and a cancer risk with long exposure. India is the world's biggest spice producer and is also the largest consumer and exporter of spices.
Shashwat Goenka envisions significant growth and transformation across diverse sectors within the RPSG Group. The strategic focus includes retail expansion, innovative health food offerings, client-centric BPO services, and a transition to greener energy sources for sustainable growth.
The Spices Board has released comprehensive guidelines for exporters to prevent ethylene oxide contamination in Indian spice products, following quality concerns from certain countries. The guidelines include avoiding the use of ethylene oxide, testing for contamination, and implementing preventive measures throughout the supply chain. Exporters are encouraged to use alternative sterilization methods. These guidelines come after Hong Kong and Singapore banned popular spice brands due to ethylene oxide detection.
Market researcherfirm Kantar reports that local businesses operating in a single area increased their market shares by over 13% in the year that ended in April 2023, while national brands expanded by 9% in the same period. Kantar examined 13 categories in the personal care, home care, and food and beverage industries. Regional brands that operate in many markets experienced a 2% decline in market share, whilst unbranded enterprises witnessed a 5% decline in market share.
In his new role, Ranjan will spearhead Danone's strategic initiatives in India, focusing on expanding the company's presence, strengthening partnerships, and fostering sustainable growth. Leveraging his deep understanding of consumer preferences and market dynamics, he is committed to steering Danone India towards its global vision of delivering health through food to the people of India.
Bajaj Consumer Care said its board of directors at its meeting held on Wednesday considered and approved the proposal for the buyback of 57.41 lakh equity shares of face value Re 1, representing 4.02 per cent of the total number of paid-up equity shares of the company.
PepsiCo India is experimenting with replacing palm oil and palmolein with a blend of sunflower oil and palmolein in Lay's, the country's largest potato chip brand. This comes amid backlash over the use of cheaper, unhealthy ingredients in packaged foods in India. In the US, PepsiCo uses "heart healthy" oil like sunflower, corn, and canola oil for Lay's. The India unit is also working to reduce salt in its snacks to less than 1.3 mg of sodium per calorie by 2025.
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