Bunge India, a 100% subsidiary of agribusiness and food company Bunge, is targeting a turnover of Rs 1,100 crore by the end of this year as against Rs 800 crore last year, even as it scouts for acquisitions in its edible oils business."In the edible oil category, there are brands which are operating in niche markets which we could make for good acquisitions but currently the valuations are unattractive," Adhiraj Sarin, MD of the company, said here today.The company is targeting a 25% marketshare in soybean oil by 2011 and a similar share in vanaspati by 2010.Bunge India is currently having a market share of 5% in edible oil (majorly soybean and sunflower) and 15% in vanaspati.On the investment contemplated planned to fuel its expansion plans, Sarin said: "Investments behind the manufacturing capacities will take place after 18 months and currently our focus will be with investments behind the brand."The company presently has a crushing capacity of 1,600 tonnes per day spread equally across its two manufacturing plants at Pithampur and Bundi apart from 6 to 7 third-party units for crushing.It plans to increase its revenues through the edible oil business that constitutes close to 40% of the total revenues with the rest coming from vanaspati, he said.
