2024-03-07 08:10:46
New Delhi: You must be familiar with frozen French fries, frozen potato tikkis, frozen smileys and nuggets etc. These dishes are made of potatoes. Take them out from the freezer, deep fry them in oil or fry them in an air fryer and enjoy. There is talk of a major earthquake in this frozen food market. This is because HyFun Foods, the company which is currently the largest exporter of frozen food and vegetables from India, is now gearing up to increase its penetration in the domestic market as well. For this the company is going to invest Rs 1100 crore. With this investment the company is going to set up three new manufacturing plants. It is believed that this step of HyFun Foods will not only give tough competition to the established companies in this sector, but the customers are also expected to benefit.
What is HyFun’s plan?
Harish Karamchandani, MD & CEO of Ahmedabad-based company HyFun Foods, revealed the plan in New Delhi today. He told that till now he is exporting only frozen food. Some are supplying white labels to local companies in the domestic market. Meaning B2B business. Now there is a plan to directly enter the retail business of frozen foods. Now the company will sell these things across the country under its own brand name.
Three new manufacturing units will be built
He told that when we have to enter the domestic market with all our might, we will have to prepare accordingly. Therefore, there is a plan to set up three new manufacturing units. An investment of Rs 1100 crore will be made in this. These new units will not only supply the domestic market but will also focus on the export market.
Agreement signed with Reliance Retail and DMart
To make HyFun Foods products accessible across the country, the company has tied up with organized retail chains like Reliance Retail and DMart. Harish Karamchandani says that at present his products will be available only in limited stores of Reliance Retail. It will be expanded gradually. Similarly, DMart’s products will be available only in its Gujarat stores. After this it will be expanded to other states of the country also.
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Export takes place in more than 40 countries
Currently, HyFun Foods exports French Fries, Aloo Tikki, Potato Flakes and some other processed foods to more than 40 countries of the world. Exporting countries also include countries like UK and Canada. Along with this, the company also supplies to quick service restaurants like KFC, McDonald’s, Burger King, Pizza Hut, Subway, Taco Bell. It also makes products for companies like Godrej, Safal, ITC.
If competition increases, customers will benefit.
The MD & CEO of HyFun Foods says that his expertise has been in manufacturing quality products in bulk at low cost. That is why it has made its place in the export market. Now Indian customers will also get the benefit of this expertise. This means that they will be able to get quality products at a lower price than what they currently have to pay for frozen foods. Along with this, competition will also increase for those companies which are currently ruling the Indian retail market as a monopoly.