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ITC to enter dairy market with ghee

FMCG major ITC is set to debut its range of dairy product starting with ghee, which would be available in the market by the end of the current quarter, a top company executive said on Monday. "We will bring our first dairy product into the market with ghee by the end of the current quarter," Sanjiv Puri, president of FMCG businesses at ITC told reporters here on the sidelines of  a conference.

The company's ambitious dairy business will rollout in the next few years, other products following ghee will include packaged milk, butter, cheese and chocolates to take on category leaders such as Amul, Nestle, PepsiCo, Hindustan Unilever and Dabur.

"Work on this plan is at various stages and when we are ready, we will launch products based on how the market evolves," Puri said, adding that ITC has identified areas across the country where they would expand dairy production over a period of time.

While Puri did not ascertain the exact investment that has gone into setting up the dairy business as it is "an ongoing process", he said a "significant portion" of the targeted investment of Rs 25,000 crore for ITC over the next few years would be in foods. 
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