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Dalmia to Sell Olive Oil Brands

June 8, 2014 - New Delhi, Delhi, India

Following the divestment of Leonardo, its leading national olive oil brand, to Cargill India earlier this year, Dalmia Continental Pvt. Ltd. (DCPL) is now putting its two other brands Marco Polo & OliRyze on sale.  DCPL is required to exit all olive oil related categories as part of its agreement with Cargill.  Marco Polo was launched by DCPL in 2012 as a fighter brand to compete with low-priced olive oils and has shown good growth since.  Marco Polo exhibited 12% growth in the year 2013-14, a year in which there was degrowth in the overall category due to steep price increases, rupee depreciation and weak consumer sentiment from slow economic growth.  Distributed nationally through the company’s sales network, Marco Polo is listed in major retail chains.
OliRyze, a blend of 70% Rice Bran Oil and 30% Olive Oil, was launched in 2013 as an entry level product to upgrade users of other oils to healthier oils.  OliRyze was promoted as a healthier alternative to Rice Bran Oil which itself is promoted as a healthy oil as compared to other seed oils.
DCPL is the flagship company of promoter VN Dalmia.  Olive oil grew at a rapid pace till 2013 showing 45% compound growth over 5 years as Indians switched to olive due to its enormous health benefits.  India is world No.1 in cardiac patients.  Over 40% of urban Indians have high cholesterol and triglycerides. 140 million people in India have high blood pressure. India is one of the diabetic capitals of the world.  The high percentage of mono-unsaturated fat in olive oil (75%+) and the low saturated fat addresses all three  issues: heart disease, diabetes and hypertension.  In addition, the high anti-oxidants in olive oil fight cancer and increase life expectancy.  

Source: Business Wire India


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