Diversified conglomerate ITC today said it will increase the production of biscuits in the country by up to 20 per cent every year as it plans to drive growth in the segment in the wake of robust demand.
"We have 15 biscuit plants in India. As our food division grows 15-20% growth, every year we expand our capacities by 15-20%," ITC CEO (Food Division) Chitranjan Dar told reporters on the sidelines of a CII event.
He, however, declined to disclose details of current production capacity of the plants as well as the kind of investments it is likely to put on the expansion.
"We do not disclose such facts for reasons of competitive intelligence," a company spokesperson said.
In July 2003, ITC forayed into the Biscuits market with the Sunfeast range of Glucose, Marie and Cream Biscuits.
The company had recently forayed into the noodles category under the Sunfeast brand in South India. It is currently in the process for pan-India launch of the product.
Asked if the company would take any price increase due to the high commodity prices, particularly that of sugar, Dar said the firm will make a decision by January next year.
"We had earlier passed on some portion of the commodity prices to consumers. Any further change, we will be able to decide in January. We expect by then there will be some stability," he said.