- ‘No. 1 Importer of Edible Oil in 2015’
- ‘No.1 Exporter of Soybean Meals’
- ‘No.1 Palm Oil Brand’
Company’s MD Dinesh Shahra calls for duty differential of 20 % between crude and refined palm oils to provide a level playing field for domestic industry
NewZNew (Chandigarh) : Ruchi Soya Industries Limited (Ruchi Soya), India’s number one edible oil and soya foods company, has been conferred the Globoil Diamond Award for being ‘No. 1 Importer of Edible Oil 2015’. Ruchi Soya was acknowledged for its leadership in the Indian edible oil industry at Globoil India Awards 2015. The visionary Founder and Managing Director of Ruchi Soya Mr. Dinesh Shahra received the award on behalf of the company at a glittering ceremony held last evening in Mumbai.
Ruchi Soya was also bestowed Globoil Diamond Awards for being ‘No. 1 Exporter of Oil Meals 2015’ and for being the No.1 manufacturer of branded palm oil.
On receiving the recognitions, Mr. Dinesh Shahra – Founder and Managing Director, Ruchi Soya Industries Limited stated, “It is indeed a privilege to receive this award. I accept it on behalf of the entire Ruchi Soya family, who have made this possible. This award acknowledges our company’s efforts and contribution towards the industry and sector at large. Going forward Ruchi soya will expand its indigenous procurements. Ruchi has pioneered Palm oil cultivation in India and has already activated production from 50 thousand hectares across India”
At Globoil India 2015, Mr. Shahra made a fervent plea for the industry and government to ‘Act’ in close coordination to ensure India’s strategic food security. No country aspiring to emerge as a world power can afford to be dependent on imports to meet its food requirements. Mr. Shahra complimented the Indian Government for levying additional duty differential between crude and refined palm oils. He made an avid plea for increasing the duty differential between refined and crude oil imports to 20% from the present 7.5%. He proposed to divert the revenue collected from increased duty for promotion of oilseed cultivation within the country. This would avert the unabated flow of refined palm oil into India and provide a level playing field to domestic industry.
On receiving the award for being the No.1 Brand in the refined Palm Oil Category, Mr. Satendra Aggarwal, COO, Ruchi Soya mentioned, “We can see a clear shift of consumer preferences from loose oil to packed oil. Ruchi Gold is clearly a market leader with a dominance over 35% of the market share. Last year we appointed Madhuri Dixit as our brand ambassador for our brand Mahakosh. We have plans to harness the opportunity in branded packed oil segment to its fullest. We are targeting a two folds increase in branded oil sales within three years.”