Adani Wilmar Limited (AWL), market leader in the edible oil industry in the country, is all set to replace packaging of Fortune edible oil brand with recyclable material to limit environmental waste.
Angshu Mallick, chief operating officer of Adani Wilmar, said in Ahmedabad on Tuesday that the new edible oil packaging would be rolled out for 1 litre pouches for the first time ever in the industry. What will begin initially for the edible oils would successively cover the company's other sub-brands.
AWL, a joint venture company between Adani Group and Wilmar International Limited of Singapore, was set up in 1999. According to Mallick, the company having a turnover of over $3.5 billion has a market share of 21 per cent in edible oil. The nearest competitor of Fortune brand is Ruchi brand with about 13 per cent market share, an official of AWL said.
As part of the plan to limit environmental waste, the company would source plastic films comprising a novel formulation of polyethylene resins to create a new, sustainable all PE laminate solution from its dedicated supplier Vishakha Polyfab Private Limited.
The AWL would also have a nine-month exclusivity contract with VPPL during which it would hold sole usage rights of using and marketing the innovative packaging in the entire edible oil industry.
Mallick said that they were talking about nearly 47 crore pouches/litres of oil per annum being packed sustainably. Without revealing the amount that would be spent on sustainable packaging, he assured that the burden won't be passed on to the conusmers.
According to him, the consumption of one litre pouch is growing at 15 per cent per annum and if 47 crore pouches were counted, it would measure up to 38,000 square kilometer which 80 times the size of Ahmedabad.
The novel formulation of polyethylene resin has been certified by the Central Institute of Plastics Engineering and Technology, an agency under the department of chemicals and petrochemicals, Government of India.
Every edible oil pouch would carry a prominent, enlarged international symbol for recycling symbolised by curved, folded arrows forming a triangle in the front of every pouch.
AWL, incorporated in 1999, launched India's first port-based plant in edible oil in Mundra, Gujarat with a refining capacity of 600 MT oil daily. The joint venture is all set to become the world's largest refining unit in soft oil.
Mallick said that the new move by changing the packaging would fetch more money to rag pickers and plans were afoot to create awareness about recycling. The company is contemplating as to how the pouches can be bought back by the company or the retail sellers.
Padma Shri Kartikeya Sarabhai, founder of Centre for Envrionment Education, who was present on the occasion, said that India have a long way to go when it comes to recycling. Such efforts, he said, needs to be encouraged and was the right thing. The change, according to him, won't happen overnight.
Other brands from AWL include Aadhar, Kings, Fryola, Raag Gold and Alpha.
