PepsiCo plans to invest $400 million in Vietnam to construct two new plants powered by renewable energy, according to Reuters.
The announcement came during a three-day working visit to Vietnam by more than 60 US companies, including PepsiCo and the joint venture of Suntory and PepsiCo, Suntory PepsiCo Vietnam Beverage.
One beverage production facility, estimated to cost over $300 million, will be established in Vietnam’s southern Long An province. Additionally, a food processing facility with an investment of $90 million will be located in the northern Ha Nam province of the country.
According to Reuters, while the Vietnamese government’s report did not provide specific timelines for the commissioning of the two factories, PepsiCo had previously announced its intention to begin operations at the Ha Nam facility in the third quarter of 2025, following the receipt of an investment certificate late last year.
Yousta, the vibrant fashion brand catering to the youth under Reliance Retail, is thrilled to announce the inauguration of its second store in Pune, located at Phoenix Marketcity. The grand opening was graced by Bollywood star Shraddha Kapoor, adding a touch of glamour and excitement to the occasion.
Known for her impeccable style, Shraddha Kapoor explored the trendy offerings at Yousta, expressing admiration for the diverse range of fashionable ensembles. She praised Yousta’s innovative use of technology, particularly highlighting the seamless shopping experience provided by self-checkout booths and QR code accessibility.
This latest expansion represents Yousta’s second endeavor in Pune, extending its reach beyond AeroMall. With a proven track record of success in multiple Indian cities, Yousta aims to cater to Pune’s fashion enthusiasts with its dynamic and budget-friendly collections, captivating young consumers since its inception in 2023.
Yousta’s dedication to affordability is clear through its broad selection of stylish clothing, priced below INR 499, with none going over INR 999. The Phoenix Marketcity store features a diverse range of fashionable outfits, unisex merchandise, and weekly fashion releases from the “Starring Now” collection.
Embracing modern retail practices, the Yousta store ensures a contemporary and tech-savvy shopping experience, offering QR codes for seamless information access, self-checkout counters, and charging stations for electronic devices.
Beyond fashion, Yousta is committed to community engagement, collaborating with non-profit organizations to support clothing donations, contribute to community programs, and advocate for sustainability.
This week saw a rise in rice export prices for India, the leading exporter, as traders adjusted to increased duties on rice shipments. Meanwhile, demand in Thailand remained subdued.
India’s 5% broken parboiled variety fetched a price range of $550-$558 per ton this week, indicating a rise from the previous week’s $543-$550. Earlier this month, rates soared to a record high of $560.
A New Delhi-based dealer affiliated with a global trade house stated, “We’ve had to increase prices due to the government’s shift towards considering the total transaction value rather than the Free on Board (FOB) value for calculating the 20% export duty. Consequently, our export prices have been driven up.”
In August 2023, New Delhi implemented a 20% export duty on parboiled rice shipments as a measure to regulate domestic rice prices.
Four exporters informed that the Indian customs department has issued notices demanding duty differentials on rice exported over the past 18 months. This uncommon tax demand has the potential to severely impact rice shipments from India.
The price of Thailand’s 5% broken rice was listed at $585-$590 per ton this week, marking a decrease from the previous week’s $598.
According to a trader based in Bangkok, prices eased due to a decline in the value of the baht and subdued demand. However, they noted that Indonesian buyers provided support to the prices.
Another trader mentioned that Vietnamese rice was more affordable and highlighted that the local supply was nearing its seasonal conclusion, despite some remaining paddy.
The price for Vietnam’s 5% broken rice remained steady at $590-$595 per metric ton, the same as last week.
A trader based in Ho Chi Minh City mentioned that exporters have reduced their purchases from farmers following a U.S. forecast earlier this month suggesting that the Philippines could decrease its imports this year due to increased domestic supplies.
Vietnam’s primary market for rice exports is the Philippines.
Despite favorable yields and reserves, rice prices in Bangladesh remained high.
Authorities indicated that Bangladesh might permit private traders to import up to 200,000 tonnes of rice to alleviate the domestic prices of the essential grain.
In order to prevent hoarding and speculation by unscrupulous elements, the Central Government announced on Friday that all retail and wholesale wheat traders in the country will be required to declare their stock positions on the official portal beginning April 1.
The directive mandates that the stock position must be updated every Friday until further notice.
The Department of Food and Public Distribution stated that it is closely monitoring the wheat and rice stock positions to regulate prices and guarantee ample availability across the nation.
The directive applies to traders/wholesalers, retailers, large retail chains, and processors in all states and union territories.
Each respective legal entity must ensure regular and accurate disclosure of stocks on the portal.
The order specifies that the Wheat Stock Limit for all categories of entities in states and UTs will expire on March 31. Subsequently, these entities are required to disclose their wheat stock on the portal.
Rice stock declarations by all types of entities are already established. Any entity that has not yet registered with the Portal may do so and begin disclosing their wheat and rice stocks every Friday. The order also requires that all legal entities regularly declare their rice and wheat stock on the portal.
The report, which was released ahead of the International Day of Zero Waste (March 30), stated that in 2022, 1.05 billion tonnes of food waste (including inedible parts) was generated, amounting to 132 kilogrammes per person and nearly one-fifth of all food accessible to consumers.
The report revealed that in 2022, households accounted for 60% of the total food wasted, while food services were responsible for 28%, and retail contributed to 12%.
The report emphasized the necessity of enhancing and fortifying data infrastructure to facilitate the monitoring and oversight of food waste. It highlighted the deficiency in tracking systems in many low- and middle-income countries to achieve Sustainable Development Goal 12.3, aiming to halve food waste by 2030, especially in retail and food services sectors. Currently, only four G-20 nations (Australia, Japan, U.K., U.S.) along with the European Union possess food waste estimates adequate for monitoring progress towards 2030.
Contrary to common belief, the report indicated that food waste was not solely a ‘rich country problem’. It highlighted that the average levels of household food waste differed by only 7 kg per capita among high-income, upper-middle-income, and lower-middle-income countries. The report also pointed out, “Hotter countries seem to produce more food waste per capita in households, possibly due to increased consumption of fresh foods with significant inedible parts and a lack of reliable cold chain systems.”
Highlighting the connection between food waste and climate change, the report revealed that food loss and waste accounted for “8-10% of annual global greenhouse gas (GHG) emissions – nearly five times the emissions of the aviation sector – and resulted in substantial biodiversity loss, occupying the equivalent of nearly a third of the world’s agricultural land.” The report estimated the economic impact of both food loss and waste on the global economy to be $1 trillion.
The data also indicated a trend where, compared to urban areas, rural areas generally wasted less food. This was attributed to “greater diversion of food scraps to pets, livestock, and home composting.”
The report highlighted that as of 2022, only 21 countries had incorporated food loss and/or waste reduction into their climate plans or Nationally Determined Contributions (NDCs). The report urged governments to “elevate climate ambition by integrating food loss and waste” into their NDCs.
The report defines “food waste” as “food and its associated inedible parts removed from the human food supply chain.” In contrast, “food loss” is defined as “all crop and livestock quantities suitable for human consumption that, either directly or indirectly, are lost from the post-harvest/slaughter production/supply chain… up to, but excluding, the retail level.”
The Food Waste Index tracks the global and national production of food and inedible parts that are discarded at the retail and consumer levels, including households and foodservices. UNEP acts as its custodian.
Cleantech startup Bambrew has secured INR 60 Cr (approximately $7 Mn) in its Series A funding round through a mix of equity and debt. The round was led by Blume Ventures.
The startup plans to utilize the funding to expand into primary packaging for FMCG and food and beverage product categories. Additionally, the funds will be allocated towards expanding manufacturing capabilities, enhancing research and development, and growing the team.
Established in 2019 by Vaibhav Anant, Bambrew provides sustainable packaging alternatives to single-use plastics. According to the startup, their products are biodegradable and environmentally and animal-friendly.
Regarding the funding, Anant stated, “We plan to expand into multiple regions with diverse solutions in both primary and secondary packaging. We will use the funds to broaden our offerings in various forms of primary packaging and assist brands in adopting materials that are both sustainable and functional.”
Adding to this, Blume partner Arpit Agarwal commented, “Just as the FAME II subsidies propelled the growth of EVs, we anticipate that the EPR (extended producer responsibility) regulations in India will foster the emergence of circular economy companies. There is a growing demand for sustainable packaging solutions, and there are few comprehensive products available in the market to meet this need. The team’s ability to offer end-to-end solutions for FMCG and ecommerce clients, coupled with their innovative edge over competitors, makes this an excellent investment opportunity.”
Bambrew asserts a growth of 100X since its establishment. The company states that its products are certified by the Indian government and the Central Pollution Control Board as plastic-free and are compostable within 130 days.
Bambrew’s clientele includes major companies such as Amazon, Nykaa, My Glam, Bata, Snitch, Harris Brushes, and Mahindra.
With the increasing awareness about the necessity of reducing environmental damage and addressing global warming, as well as the growing importance of environmental, social, and governance (ESG) norms, cleantech products are experiencing high demand. This surge has led to the emergence of numerous cleantech startups in the country, drawing significant attention from investors towards this sector.
Earlier this month, Sprih, a cleantech startup that assists companies in reaching their sustainability objectives, secured $3 million in funding. The investment will be used to enhance its sales and marketing efforts, recruit talent to develop AI models focused on climate, and expand its partner network.
Earlier this year, INDRA, a provider of water recycling solutions, secured $4 million in funding to deliver water treatment and industrial waste management solutions to businesses.
The company announced that IHCL has opened 34 hotels this fiscal year, surpassing its 300-plus hotels target set under Ahvaan 2025 ahead of schedule.
During FY24, IHCL, known for its luxury properties under the Taj brand, achieved its highest-ever hotel signings. In contrast, it signed 19 and 36 hotels in FY22 and FY23 respectively. This surge in signings is attributed to robust domestic demand, leading to higher average room rates and enhanced profitability for owners.
With 218 hotels now in operation and 91 more under development, IHCL currently has 309 properties under its belt.
“With India’s increasing prosperity and growing desire for travel, IHCL will target burgeoning segments with innovative offerings such as upscale full-service hotels.” Our next phase of growth will also include leveraging our existing alliances for multi-hotel projects,” said Suma Venkatesh, IHCL’s Executive Vice President of Real Estate & Development.
The 52 signed properties include hotels in foreign locations like South Asia and Frankfurt, as well as airports in Delhi, Kochi, and Goa.
“With a robust pipeline of over 90 hotels, IHCL’s supply growth is poised to accelerate in the coming years, maintaining its leadership in the domestic market while venturing into selected international markets,” said Deepika Rao, Executive Vice President of Hotel Openings and New Businesses.
In May 2022, IHCL unveiled its three-year plan, Ahvaan 2025, aiming to expand its portfolio to over 300 hotels and eliminate net debt, among other objectives.
Joy, the personal care brand under RSH Global, aims to achieve a revenue of INR 750 crore in FY2025. The company is prioritizing the expansion of its distribution network within the domestic market
Targeting the mass-market segment, the company is aiming for a revenue of INR 575 crore in FY2024. Based in Kolkata, the company plans to broaden its distribution to 500,000 outlets over the next three years.
“We anticipate ending the year with a 20% increase in our top line compared to last year and are targeting a growth of 30-35% for the next year. Our primary focus is on our core markets in North, West, and East India. The growth will be driven by the expansion of our distribution channels, both in general and modern trade. Currently, we are present in approximately 1,50,000 outlets and aim to triple this number,” stated Sunil Agarwal, Founder and Chairman of RSH Global.
With manufacturing facilities located in Kolkata and Baddi, Himachal Pradesh, the company has injected INR 80 crore into a new facility. Set to be operational by August, this facility will elevate the overall capacity to 50,000 metric tonnes.
Online sales currently account for 10% of the company’s total revenue and are projected to rise with the increase in demand.
In the last three years, we have seen an increase in our online business. Up to 18% of sales in the industry are made online. Online sales of our firm are expected to reach 20% over the next three years,” he stated.
Centered around a mass-market brand, the company will strategically explore avenues for premiumization.
The company has a presence in 25 countries and is actively working to broaden its reach in additional international markets.
“We are expanding into new markets, including the US, Vietnam, Indonesia, Malaysia, and the Philippines. We are also thinking about growing into Brazil. By 2026–2027, we expect these new markets, which the business intends to enter during this fiscal year, to flourish,” said Sunil Agarwal.
Elevate Foods, owned by Singapore-based GBN Food Solutions, plans to use the funding to set up a network for processed agricultural products. Additionally, the company will form a specialized team dedicated to sustainable food systems and improve quality management tools as it expands its presence in the Gulf and Southeast Asian markets.
With a focus on addressing food loss and waste, Elevate Foods empowers small-scale farm-gate food processors throughout India. The platform facilitates access to global markets and ensures adherence to rigorous quality standards, while also establishing a traceable and sustainable source of produce. Leveraging technology and market insights, Elevate Foods upgrades existing processors and contributes to building a more sustainable and resilient food ecosystem.
Elevate Foods operates at the inception of the supply chain, establishing a sustainable and traceable solution for agricultural produce buyers. Simultaneously, they collaborate with farm-gate manufacturers to enhance their operations and uphold rigorous quality standards.
Its aim is to attain a revenue of US$100 million while reducing 100 million tons of carbon dioxide (CO2) emissions in the future.
Elevate Foods CEO and Founder Gayatri Bhatia said, “We are thrilled to announce the successful closing of our pre-seed funding round with the support of Wavemaker Impact.” “This investment is a significant step towards our goal of enabling Indian farm-gate processors to export their produce around the world and fostering a more robust and sustainable food system.”
In line with Elevate Foods’ objectives, The Asian Food Factory, a local food distribution company operating in Singapore and other Southeast Asian countries and owning its own retail chain called “Bazaar,” expressed excitement about the collaboration.
“We’re thrilled to partner with Elevate Foods to introduce top-tier Indian agricultural products to global markets through our private labels,” commented Abhay Sharma, Founder & CEO of The Asian Food Factory. “Their dedication to upholding quality standards and supporting local processors resonates perfectly with our goal of promoting sustainable cross-border trade.”
“We recognise significant potential in Elevate Foods’ innovative strategy of supporting Indian farm-gate processors to address the trillion-dollar food waste problem, presently contributing more than 4.5 Gigatonnes of Carbon Dioxide Emissions Equivalent (GtCO2e),” said Quentin Vaquette, Founder and CEO of Wavemaker Impact. “By addressing the hurdles encountered by processors through enhanced profit-purpose alignment, Elevate Foods is positioned to unveil fresh opportunities that will catalyse substantial transformation in both the agricultural and food processing domains.”
The Noida International Airport has announced that it has awarded HMSHost India a contract to construct and manage restaurants, cafes, and other food establishments at the soon-to-be-opened Jewar airport.
HMSHost India, a subsidiary of Avolta AG, is a global leader in travel experiences, operating in 75 countries with 1,200 locations and 5,500 points of sale spanning the three sectors of F&B (food & beverage), duty-free, and convenience.
This marks the second F&B contract granted by Noida International Airport (NIA).
NIA operates under the umbrella of Yamuna International Airport Private Limited (YIAPL), the entity responsible for the airport’s development. YIAPL is a wholly-owned subsidiary of the Swiss company Zurich Airport International AG.
On March 6, NIA partnered with TFS, appointing them as the first concessionaire to set up a premium lounge and multi-cuisine food and beverage outlets at the airport.
The airport, located about 75 kilometres from New Delhi and situated in the Jewar region of Gautam Buddh Nagar in the western part of Uttar Pradesh, is expected to begin operations by the end of this year.
Through its collaboration with HMSHost India, NIA aims to offer a diverse and high-quality range of food in a clean environment, thereby enhancing the overall passenger experience at the airport.
“The establishments will offer a premium yet affordable dining experience to customers,” stated the airport.
Christoph Schnellmann, the CEO of Noida International Airport, expressed confidence that with their global expertise in the hospitality industry, HMSHost will introduce a distinctive and customer-friendly ambiance to the airport’s dining experience.
“We strive to create a diverse range of offerings that combine local flavours with global cuisine, striking the right balance to cater to varied appetites,” he commented.
Jagvir Rana, Managing Director for India Subcontinent at Avolta, commented, “We are truly honoured and grateful for the opportunity given to us by Noida International Airport… and to operate seven new outlets.”
Currently, the construction of the airport’s first phase is in progress.
In the initial phase, which includes a runway and a terminal, the airport will accommodate up to 12 million passengers annually. Upon the completion of all four phases, officials state that the airport will have the capacity to serve 70 million passengers per year.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
