The Hindu Business Line : ITC Foods plans more snacks

ITC Foods plans to add more products in three years even as its latest product, I Biscuits, has garnered a share of over 4 per cent since its launch in January in the snack food market.

The Executive Vice-President of ITC Foods, Mr Ravi Naware, told Business Line that the company was willing to acquire brands in the ready-to-eat, snacks, confectionary and staple business. "For us consistent quality should be the differentiator," he said.

The company sources wheat for its `Aashirvaad' atta, launched in December 2002, through an internet-based cooperative programme directly from farmers. This also ensures economies of scale since the wheat is the only raw material and the biggest cost in the production of atta.

Mr Naware said the company was planning to go in for line extension as ready-to-cook dough blends. "We expect staple business to grow to become a big business," Mr Naware said.

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