Bunge FSG, an agro business and food company known best for its brand Dalda, recently completed 10 years of its operations in India and is now looking forward with aggressive marketing plans for the year 2011.
Speaking exclusively to exchange4media, Shrikant Bhasi, Head - Business Development, Bunge FSG, shared, “The last 10 years have been eventful – starting as a trading set-up to acquisitions of Dalda/ Masterline and Cheval. The initial few years were spent more in understanding the Indian edible oils and fats market, putting support systems and teams in place and diversifying operations in different fields and locations. After initial challenges, the business is on a solid footing today. All parts of the business have shown strong progress.”
The year 2010 was quite eventful as the company’s key offering to the Indian consumers is believed to have seen favourable growth. Bhasi stated, “We have three key brands today – Dalda and Chambal for the B2C market and Masterline for B2B. The brands have done well in 2010 with strong top-line and bottom-line growth.”
And as the brands are growing at the desired rate, the company has robust figures in mind for its 2011 marketing budget. “Average marketing budget of the company is between Rs 25 crore and Rs 30 crore,” informed Bhasi.
As for digital plans, he said, “There is no specific budget kept aside for digital media. It is used along with other mass media as and when it is found to be useful in reaching our target customers.”
According to company data, Dalda is their most popular consumer brand in India and was rated as the most trusted cooking medium brand by an ET survey in 2010. Bhasi elaborated, “Dalda is a strong brand in the vanaspati segment. It has a strong trust and taste credential. We have extended the brand in the oil segment and it has been receiving very positive response from our strong markets in the North and East.”
Further divulging the brand’s marketing plans for 2011, he said, “In 2011, we are looking at consolidating the growth in Vanaspati segment and driving market share growth in the edible oil segment.”
“Our projected growth rate for the next three years is 15-20 per cent on a CAGR basis,” he further said.
Currently, Saints and Warriors is handling the advertising duties for the company, while OMD is the media agency on board.
Bunge FSG started oilseed operations about 12 years back in India and today it is the largest crusher of oilseed in the world. Bunge has presence is in more than 30 countries.