New Delhi, Sept 20 (UNI) Aiming to tap 15 per cent market share of country's olive oil by FY08, FMCG firm R R Oomerbhoy Pvt Ltd (RRO) today introduced Italian brand Filippo Berio's two variants into India, and plans to foray into the SAARC countries early next year.
''We aim to have a 15 per cent market share of India's olive oil segment with a sales turnover of about Rs 30-40 crore by the end of next financial year,'' RRO Riyad R Oomerbhoy told reporters here.
Currently, olive oil consumption in India is about 20,000 litre per month.
The company will now make Extra Virgin Olive Oil and Pure Olive Oil available in the Indian market, he said.
''We will foray into the SAARC countries, such as Nepal, Bangladesh and Maldives by early 2008,'' company's General Manager K M Dangra told UNI.
Mumbai-based RRO has got the exclusive rights from Filippo Berio to market its product lines in the SAARC as well as Gulf Cooperation Council (GCC) countries.
At present, the company is in the process of setting up the distributor network, he said, adding that the company also plans to enter GCC countries after foraying into the SAARC coutries.
Mumbai-based edible oils manufacturing RRO expects to touch a sales turnover of about Rs 160 crore by March 2009, in which olive oil's contribution would be about 30-40 per cent, Mr Oomerbhoy said.
The company had a total sales turnover of Rs 120 crore during last fiscal.
Mr Oomerbhoy said the consumers are now more aware of a health conscious lifestyle and are ready to experiment and explore the various options for taste buds.
Olive oil is a fruit oil obtained from the olive, a traditional tree crop of the Mediterranean Basin. It is commonly used in cooking, cosmetics, pharmaceuticals, and soaps and as a fuel for traditional oil lamps.