Oct 3, 2020
PepsiCo Inc. has good news all the with its snacking business in India has clocked high-single-digit volume growth in the third quarter of the year and has been benefiting from more in-home consumption of snacks, even though its beverages volumes continues to be under stress.
Overall, the food and beverage maker’s net revenue increased more than 5% for the quarter ended 05 September.
The results at the maker of Lay’s chips and Mountain Dew beverages were reported for the 12 weeks ended 05 September, 2020.
According to PepsiCo, in Africa, Middle East and South Asia (AMESA) region, its third quarter snacks volume grew 289%, largely as an impact of the $1.7 billion Pioneer Foods acquisition in South Africa; meanwhile snacks volumes in India reported high-single-digit growth.
The giant company’s beverages business is still in distress as it suffers as out-of-home consumption—that accounts for a significant chunk of sales of beverages in India—and sales channels such as restaurants continue to work under covid-led restrictions.
In the AMESA region, the company’s beverage volumes declined 4%, primarily reflecting a double-digit decline in India, the company said.
PepsiCo has re-strategized price packs and increased consumer engagement in India.
Ahmed ElSheikh, President PepsiCo India said that with the Indian FMCG industry slowly reviving in COVID impacted world, they have re-strategized the price-pack programs, enhanced consumer engagement initiatives and doubled down attention on both B2C and B2B distribution models to meet consumer demand.
PepsiCo’s expects its snacks business to remain strong, but its recovery for the beverages business may take more time because of covid related restrictions and closures as it relates to certain channels.
Leading industries get 5 novel technologies from IIFPT
Indian Institute of Food Processing Technology (IIFPT) Thanjavur has conveyed five technologies designed and developed by it to two leading industries dealing with food processing. These include the puffing machine for rice and millets and moringa leaves separator. A national research & development and educational institute functions under the ministry of food processing industries (MoFPI).
The technology knowhow for five technologies such as Mobile Processing Unit, Integrated Onion Processing Unit, Puffing Machine for Rice and Millets, Moringa Leaves Separator and Solar Hybrid Dryer have been transferred to two leading industries.
IIFPT has produced a number of inventions which were commercially exploited by the industries. The institute has awarded formal licence to industry partners for commercial exploitation of the technologies. There is a huge demand for these technologies as the government is initiating formalization of micro food entrepreneurs across the country. The industry-academia partnership will cater to the needs of the food industry by promoting viable technologies for their sustainability.