Cargill will provide $240 million over the next five years.
The announcement was made at the World Food India Conference by Peter Van Deursen, CEO, Cargill Asia Pacific, at a signing ceremony of a Memorandum of Understanding (MOU) with India Ministry of Food Processing Industries in the presence of Honorable Union Minister of Food Processing Industries, Smt. Harsimrat Kaur Badal.
The added investment will be in Cargill's core businesses including edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India. Also, it will provide 1,300 jobs and help farmers in the country.
“India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” Van Deursen said. “With the growing population and changing consumer trends, Cargill is committed to nourishing the people of India in a safe, sustainable and responsible manner. The Ministry for Food Processing Industries is to be complimented for organizing an event the scale of World Food India as it lets us collaborate with partners in the public and private sectors to deliver to our customers what consumers want.”
Cargill started operations in India in 1987. It has businesses in refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, industrial specialties and trade structured finance. Cargill in India offers consumer brands of edible oils such as Nature Fresh, Gemini, Sweekar, Leonardo Olive Oil, Rath and Sunflower brand of hydrogenated fats. It also markets wheat flour under the Nature Fresh brand name.