Company proposes to use fruit products in four ways
Coca Cola India and the Ministry of Food Processing Industries, Government of India, has today signed a memorandum of understanding (MoU) where the cola giant along with its bottling partners and its fruit suppliers and processors in India, will contribute more than $1.7 billion in the agri ecosystem of the country over the next 5 years, spanning the entire supply chain from grove to glass through a concept called the Fruit Circular Economy.
Close to $800 million of $1.7 billion contribution would be towards the procurement of processed fruit pulp and fruit concentrate and the remaining would be invested in creating the required infrastructure. Through these initiatives an estimated 2 lakh farmers will benefit from this 5 year roadmap, the company said in a statement.
T. Krishnakumar, president, Coca-Cola India and south west Asia said “Coca-Cola is on a transformational journey towards becoming a total beverages company by enhancing its offerings to the world. Coca-Cola India’s relentless efforts around the Virtuous Fruit Circular Economy, an initiative of using a variety of Indian fruits, are on its way to give better business results. Our linkages with the Indian agri-economy continue to grow strong and we continue to expand our product portfolio by utilizing locally grown fruits to create new flavours under the ‘Fruits of India’ initiative. our entry into the beverage plus category is a part of our portfolio expansion strategy with Minute Maid Perfect Fruit being the first milestone in this transformational journey. We believe that our efforts will help catalyze the country’s fruit processing industry by creating demand through new products and investments, ultimately generating new opportunities for farmers, local suppliers and retailers”.
Company proposes to use fruit products in four ways. First, entails enhancing the portfolio of juices with fruits that are grown in various regions of India and marketing the fruits in a processed juice format under brand Minute Maid. Second, adding juice to the sparkling products. Third, creating innovative new products with Indian fruits and lastly, increasing the share of Indian agri exports to the global Coca-Cola systems that currently stands at $240 million.