Ruchi Soya sells stake in JV firm
The Dollar Business Bureau Ruchi Soya announced that they have sold their entire stake to the joint venture firm Ruchi Kagome Foods India for Rs.63 crores. The company in a BSE filing said that they have disposed a complete stake into the joint venture firm for Rs.63 crores and have also signed a Share Purchase agreement and Termination Agreement with Kagome company and others on May 20, 2016. This has resulted in the termination of joint venture arrangements with other parties. In 2013, the company got into a JV with Kagome Co. and Investment, the Japanese tomato products company and Mitsui & Co., for manufacturing ketchup, tomato puree and other products in India. For the launch of products like healthy cooking oil in India, ...
Export of soybean meal drops 72% in August
The Dollar Business Bureau Export of soybean meal from India declined to 769 tonnes in August, 2015 as compared to 2,778 tonnes in the same month last year, recording a decrease of 72.33%, according to a data released by the Soybean Processors Association of India (SOPA). “On a financial year basis, the export during April'2015 to August'2015 is 35,858 tonnes as compared to 96,201 tonnes in the same period of previous year showing a decrease of 62.73%,” said SOPA in a statement. The country’s total export between April and August, 2015 stood at 35,858 tonnes as against 96,201 tonnes shipped during the corresponding period last year. Since April this year, India has exported approximately 36,000 MT of soybean meal, with Middle-East ...
