FMCG firm Ruchi Soya Industries today launched its refined sunflower oil "Sunrich" in Tamil Nadu, eyeing 15 per cent of market share.
"With this launch our intent is to take our share for Sunrich in the sunflower oil category to 10 per cent and then to 15 per cent in next two to three years.", Ruchi Soya Industries Chief Operating Officer Satendra Aggarwal said.
Towards this initiative, the company planned to step up the marketing activities which include "tripling" of distribution network, Aggarwal said.
According to him, sunflower oil market in the domestic market was over Rs 180 billion and south was the biggest contributor with 70 per cent share.
Ruchi Soya currently has about seven lakh retail outlets across the country and the introduction of "Sunrich" was the first step of the company to establish a dominant presence in the segment, he said.
In Tamil Nadu, the consumer edible oil market was about 2.30 lakh tonnes annually and sunflower oil contributes more than 60 per cent of the total edible oil consumed, he said.
