<p> Gemini Edibles & Fats India (GEF India), a subsidiary of Singapore-headquartered Golden Agri Resources, is eyeing a market share of 10% in Karnataka over the next one year, even as it taps the burgeoning sunflower oil market in the state.<br /><br /></p>.<p>Presently, the company, which forayed into Karnataka eight months ago, has a market share of 2%. “Sunflower oil is the fastest growing segment in the edible oil category in India, and is the most preferred edible oil in Karnataka, with a consumption of 25,000 metric tonnes. Currently, our share in the state is 1,000 metric tonnes, which we want to scale to 2,500 metric tonnes in one year,” GEF India Managing Director Pradeep Chowdhry told DH.<br /><br />GEF India is involved in the production of sunflower oil, rice bran oil, mustard oil, palmolein oil, vanaspati, and specialised fats. It has two production facilities (refineries) at Krishnapatnam and Kakinada.<br /><br />About the Indian market, he said, “India sees 18 million tonnes of edible oil consumption a year, of which 14 million tonnes (crude and refined) is imported. The total edible oil industry is growing at 5%.”<br /><br />GEF India, which launched a 2-litre pack of its Freedom Refined Sunflower Oil in the city on Thursday, has presence in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Odisha. The company expects to close at Rs 3,500 crore turnover in its India business this year, growing at a CAGR of 45%. </p>
<p> Gemini Edibles & Fats India (GEF India), a subsidiary of Singapore-headquartered Golden Agri Resources, is eyeing a market share of 10% in Karnataka over the next one year, even as it taps the burgeoning sunflower oil market in the state.<br /><br /></p>.<p>Presently, the company, which forayed into Karnataka eight months ago, has a market share of 2%. “Sunflower oil is the fastest growing segment in the edible oil category in India, and is the most preferred edible oil in Karnataka, with a consumption of 25,000 metric tonnes. Currently, our share in the state is 1,000 metric tonnes, which we want to scale to 2,500 metric tonnes in one year,” GEF India Managing Director Pradeep Chowdhry told DH.<br /><br />GEF India is involved in the production of sunflower oil, rice bran oil, mustard oil, palmolein oil, vanaspati, and specialised fats. It has two production facilities (refineries) at Krishnapatnam and Kakinada.<br /><br />About the Indian market, he said, “India sees 18 million tonnes of edible oil consumption a year, of which 14 million tonnes (crude and refined) is imported. The total edible oil industry is growing at 5%.”<br /><br />GEF India, which launched a 2-litre pack of its Freedom Refined Sunflower Oil in the city on Thursday, has presence in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Odisha. The company expects to close at Rs 3,500 crore turnover in its India business this year, growing at a CAGR of 45%. </p>
