SUMMER TRAINING PROJECT REPORT ON

"A Comprehensive Understanding of the Indian Spices Market in the Consumer space." At

Submitted for the Partial fulfilment Of Master of International Business (MIB) Submitted by: IFRAH KHAN
12-MIB-0022 08-4693

Under The Supervision Of Mr. Amit Gupta National Manager-Customer Marketing

CENTRE FOR MANAGEMENT STUDIES JAMIA MILLIA ISLAMIA New Delhi-110025

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DECLARATION
I, IFRAH KHAN, a bonafide student of MIB (Full Time) Programme at the Centre for Management Studies, Jamia Millia Islamia, New Delhi, hereby declare that I have undergone the Summer Training at CARGILL INDIA PRIVATE LIMITED, GURGAON, INDIA under the supervision of Mr. Amit Gupta on "A comprehensive understanding of the Indian Spices Market in the consumer space".

I also declare that the present project report is based on the above summer training and is my original work. The content of this project report has not been submitted to any other University or Institute either in part or in full for the award of any degree, diploma or fellowship.

Further, I assign the right to the University, subject to the permission from the organization concerned, use the information and contents of this project to develop cases, case lets, case leads, and papers for publication and/or for use in teaching.

IFRAH KHAN 12-MIB-22

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ACKNOWLEDGEMENT
I am heartily thankful to my supervisor Mr. Amit Gupta, National Manager (Customer Marketing), whose encouragement, guidance and support from the initial to the final level enabled me to develop an understanding of the project .It is his support and guidance due to which I remain able to come out with this project report. I owe the highest sense of appreciation for the talented, cooperating and hardworking team of CARGILL especially Mr. Aseem Soni (Director- Consumer Sales) and numerous other officials including Mr. Hemant Vagare, HR- Cargill for cooperating during the Internship and for providing me the most valuable comments and suggestions without which this report might not have been complete. I also wish to express my gratitude to the management of CARGILL INDIA PRIVATE LIMITED, who rendered their help during the period of my project work. Last but not least I wish to avail myself of this opportunity, express a sense of gratitude and love to my friends and my beloved parents, specially my mother for their immense support, strength, their faith in me and for everything.

IFRAH KHAN

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TABLE OF CONTENTS

SECTION I - COMPANY PROFILE 1.1 HISTORY 1.2 VISION AND MISSION 1.3 OBJECTIVES 1.4 MAIN ACTIVITES 1.5 FINANCIAL INSIGHTS

PAGE NO. 5 7 8 20

SECTION II REPORT ON WORK EXPERIENCE AND TASK ACCOMPLISHMENT A) DESK / OFFICE FIELD BASED TRAINING 1.6 DESCRIPTION OF THE ASSIGNED TASK AND RESPONSBILITIES 1.7 NATURE OF WORK 1.8 A BRIEF INSIGHTS- THE SPICES INDUSTRY IN INDIA B) SURVEY/ RESEARCH/ FIELDWORK BASED TRAINING 1.9 RESEARCH OBJECTIVES 2.0 RESEARCH METHODOLOGY 2.1 ANALYSIS AND INTERPRETATION OF DATA 2.2 FINDINGS AND CONCLUSION SECTION III 2.3 QUESTIONNAIRE 2.4 BIBLIOGRAPHY 60 64 43 43 44 58-59 21

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CARGILL HISTORY
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, our privately held company employs 142,000 people in 65 countries. We help customers succeed through collaboration and innovation, and are committed to sharing our global knowledge and experience to help meet economic, environmental and social challenges. Cargill collaborate with farmers, food makers, scientists, government, academia, communities and nongovernmental organizations, among others, to create better products and services, streamline supply chains, save energy, reduce costs and ensure food security by connecting places of surplus to places of deficit. We give back to communities where we conduct business through continuous efforts to improve nutrition, health, education and conservation of natural resources. Combining global knowledge, vision and insights with our strong understanding of local customers, consumers, challenges and imperatives, we are committed to nourishing ideas and people in India.

A company emerges: 18651899

Cargill begins in Iowa under the leadership of W.W. Cargill Starting at the close of the American Civil War in 1865 with one grain storage warehouse in Conover, Iowa, Will Cargill followed the expansion of the railroad system throughout the newly settled prairie to gather and process grain. Soon, his two brothers, Sam and James, joined his business venture and established the company's headquarters in La Crosse, Wisconsin. As grain and the railroads moved west, Cargill followed with new country elevators, as well as major terminals in the Minnesota towns of Minneapolis, Buffalo and Duluth. Besides the growing number of elevators, the Cargill's were involved in insurance, flour milling, coal, farming, real estate, lumber, and a railroad. The success of the business required reliable financing, innovation in moving and storing grain, and a solid business reputation. Crisis years: 19001924

John H. MacMillan, Sr., guides the company through a financial challenge In 1910, Cargill confronted perhaps the greatest challenge to its existence. The established grain trader, having grown throughout the new states in America's north central region, had accumulated too much debt. In 1909, Cargill's founder, William Wallace Cargill, died, leaving a small business empire that was overleveraged and had grown too quickly. It was obvious to his son-in-law John MacMillan that the company had to be restructured in order to satisfy the needs of bankers and customers. The question was whether MacMillan could act fast and strategically enough to preserve the core elevator and grain trading business. John MacMillan, Cargill's new leader, took quick action. He negotiated with the banks and convinced them to extend credit and give the company time to meet its debts. He dissolved much of the businesses outside of

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the profitable grain trading, moved the headquarters to Minneapolis and created a plan that would remove the debt burden over time. Also, MacMillan implemented improved accounting procedures to give management a better financial picture of the company. Within six years, the debts were paid off and Cargill was positioned for growth.

International expansion: 19251949

Cargill becomes international, and diversifies outside of the grain trade Still largely a regional grain trader, Cargill grew steadily throughout the 1930s and 40s and established offices in Canada, Holland, and Argentina. The company weathered the financial turmoil of the 1930s, as well as a major legal battle with the Chicago Board of Trade. It introduced new innovations to the industry, including a teletype wire system, a new style of grain terminal (first constructed in Omaha, Nebraska), and the establishment of a grain laboratory. Many of these innovations originated directly from Cargill's new leader, John MacMillan, Jr. By the 1940s, Cargill had diversified into feed, soybean processing, seed and vegetable oil.

A century of innovation and expansion: 19501974

Erwin Kelm becomes the first non-family member president; Cargill celebrates 100 years In the 1950s, Cargill emerged as a major international merchandiser and processor of agricultural and other commodities. Building on strengths, Cargill began global initiatives with grain-and-oilseed exports and the development of a transportation and grain elevator system that enabled it to respond to worldwide demand for basic agricultural products. In 1964, Cargill issued its first formal annual report to stockholders, which reported sales near two billion dollars; over 5,000 employees; expansion of a soybean plant in Spain, two feed mills and a seed plant in Argentina; and the purchase of the Hen Voerders Company to expand Cargill's feed operations throughout Europe. Grain handling and merchandising, soybean processing, flour and corn milling, seed and animal feed production, and salt processing fueled domestic growth and continued to play an active role beyond North America. Symbolically, the following year saw the one-hundredth anniversary of Cargill, and the tenth anniversary of Tradax, its Geneva-based extension.

Extraordinary growth: 19751999

Diversification of businesses and partners lead Cargill out of the twentieth century Under Whitney MacMillan's leadership, Cargill diversified with new operations in beef, pork and poultry processing, steel making, citrus processing, petroleum trading and merchandising, international metals, fibers and tropical commodities origination and trading and fertilizer production. Some of these areas became staples of Cargill's growth; others did not perform as expected and were sold. But Cargill's experience with diversification produced dramatic results. By its 125th anniversary in 1990, Cargill, its subsidiaries and affiliates were found in 57 countries representing nearly 55,000 employees - over ten times the number twenty-five years earlier.

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From commodities to customers: 2000Present

Cargill adopts a new brand; shifts focus to partnering with customers By the end of the twentieth century, changes in the food industry, including consolidation and tightening commodity margins, meant Cargill could not prosper if it kept commodity transactions at the center of its business. Cargill began forming closer relationships with customers to provide them with solutions to their pressing business concerns. It recognized that its success was inextricably linked to its customers' success. Cargill's goal of becoming the premier global food and agriculture Company pushed a renewed emphasis within the company on innovation and technology. Cargill moved even further up the value chain. The company evolved from trading soybeans, to processing them into meal and oil, to producing high-value natural vitamin E from a soyabean by product. And it moved from trading corn, to processing corn into ethanol and fructose, to creating a whole new family of renewable products from plastics to fabric made from corn.

CARGILL INDIA
Cargill's Operations in India started in 1987. We employee more than 2000 employees working in offices and plants across the country and have a network of warehouses and depots. We offer a range of products and services: We process, refine and market imported and indigenous vegetable oils - Serving food industry customers with vegetable oils, fats, blends and bakery shortenings - Serving household consumers with a portfolio of fortified and healthy branded edible oils We offer high quality food ingredients to serve food manufacturers and food service industry We originate, process, store, trade and market a wide range of agricultural commodities such as grains, oilseeds, sugar and cotton. We offer premix, compound feed and therapeutic care products to nourish animals We provide risk management and financial solutions We offer freight solutions and serve our industrial customers with energy commodities and metal products.

VISION AND MISSION

Our purpose is to be global leader in nourishing people. Our Mission is to create distinctive value. Our Approach is to be trustworthy, creative and enterprising. Our performance Measures are engaged employees, satisfied customers, enriched communities and profitable growth.

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FIVE MAJOR BUSINESS SEGMENTS

Cargill is an international provider of food, agricultural and risk management products and services. Our businesses are organized around five major segments. Agriculture Services, Food Ingredients and Applications, Origination and Processing, Risk Management and Financial, and Industrial.

Agriculture Services We provide crop and livestock producers worldwide with customized farm services and products. Explore

our businesses within this segment. Cargill Ag Horizons Canada Cargill Ag Horizons U.S. Cargill Feed & Nutrition Cargill Premix & Nutrition Frontier Agriculture Limited Food Ingredients & Applications We serve food and beverage manufacturers, foodservice companies and retailers with food and beverage ingredients and new food applications.

Meat, Poultry & Eggs

Food Ingredients

Cargill Beef Cargill Case Ready Beef Cargill Food Distribution Cargill Kitchen Solutions Cargill Meats Central America Cargill Meats Europe Cargill Meats Thailand Cargill Pork Cargill Value Added Meats Foodservice Cargill Value Added Meats - Retail

Cargill Cocoa & Chocolate Brazil Cargill Cocoa & Chocolate Cargill Cocoa & Chocolate North America Cargill Corn Milling North America Cargill Dressing, Sauces & Oils Cargill Health & Nutrtion Cargill Flour Mercosur Cargill Foods Brazil Cargill Foods India Cargill Foods Russia Cargill Foods Turkey Cargill Foods Venezuela

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Cargill Refined Oils Asia Pacific Cargill Refined Oils Europe Cargill Malt Cargill Salt Cargill Specialty Asia Cargill Specialty Seeds & Oils Cargill Starches & Sweeteners China Cargill Starches & Sweeteners Europe Cargill Starches & Sweeteners South America Cargill Starches & Sweeteners Southeast Asia Cargill Texturizing Solutions Cargill Toshoku Horizon Milling

Origination & Processing We connect producers and users of grain, oilseeds and other agricultural commodities through origination,

processing, marketing and distribution capabilities and services Cargill Cotton Cargill Grain & Oilseed Supply Chain Cargill Sugar Cargill Sugar & Ethanol Brazil

Risk Management & Financial We provide our customers and our own businesses with risk management and financial solutions in a

number of world markets. Black River Asset Management Cargill Metals Cargill Petrochemicals Cargill Thermal Energy Cargill Transport Fuels Cargill Risk Management Cargill Trade & Structured Finance CarVal Investors Industrial Cargill supplies our customers worldwide with salt and steel products and services. In addition, we are constantly developing new industrial applications for agricultural feedstocks. BiOH Polyols BiOH Fusion polymers Cargill De-icing Technology Cargill Metals
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Cargill Industrial Starches Cargill Ocean Transportation Cargill Industrial Oils & Lubricants Cargill Salt Nature Works LLC North Star Steel (BlueScope)

PRODUCTS AND SERVICES

Animal Nutrition & Feed

Cargill serves the global animal feed and production supply chain by offering: Feed manufacturers reliably sourced inputs, vitamins, minerals, additives, and feed mill management tools. Animal producers the nutrition expertise and feeding solutions to help optimize animal production operations for long-term gains. Feed retailers the on-trend, branded products to drive business results.

Agricultural Commodity Trading & Processing We connect producers and users of grain, oilseeds and other agricultural commodities through origination, processing, marketing and distribution capabilities and services. Grains & Oilseeds We operate on an integrated global basis to source, process, transport and distribute grain and oilseeds around the world. The main bulk products we handle are wheat, corn, oilseeds, barley and sorghum, as well as vegetable oils and meals. We have developed significant expertise in handling identity preserved and differentiated products that sustain their distinctiveness in overseas markets. Because we charter more than 150 million metric tons of dry bulk tonnage, we have the logistical flexibility and opportunity to leverage efficiencies in the supply chain. We also work closely with Cargill's finance and risk management businesses to offer a range of financial and hedging products to the products and services offered. Biofuels We produce and market biodiesel and ethanol from a range of feed stocks for customers in Europe, Latin America and North America. Sugar Cargill Sugar trades raw sugar in bulk, white sugar in bags or containers, and ethanol from offices located in Geneva, Hong Kong, Minneapolis, Minnesota and Amsterdam. We originate sugar from the worlds leading sugar producing countries, including Brazil, where we co-own and operate two major sugar export terminals, handling bulk and bags.
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We ship and distribute sugar to customers, industrials, distributors and end-users through offices in Egypt, India, China, Russia, Ukraine and other consuming countries worldwide.

Cotton Our Cargill Cotton business is present in every cotton producing and consuming region of the world through our merchandising, ginning and warehousing operations. In Africa, our gins give us access to some of the finest hand-picked cottons in the world. In the United States our warehousing capacity exceeds 500,000 bales, assuring our customers throughout the world of efficient and reliable shipments. And, we merchandise more than 5 million bales of cotton annually. Cargill Cottons reputation for quality, reliability, size and leadership is unsurpassed in the world cotton industry.

Energy, Transportation & Metals

Cargill ETM is the specialist energy, transportation and metals division of Cargill. By connecting our expertise in these three areas, Cargill ETM brings a unique combination of commercial know-how to the management of supply chains. Headquartered in Geneva, Cargill ETM brings together over 1,000 energy, transportation and metals specialists. We operate regional hubs in the Americas (Minneapolis, Houston, New Jersey, Calgary, Sao Paulo), Asia (Singapore, Shanghai, Beijing, Mumbai) and Africa (Johannesburg), Europe and the MiddleEast (London, Mechelen and Dubai). We manage commodity supply chain prices for more than 30 of Cargills businesses. This experience has allowed us to develop effective, transparent solutions for our external customers too. Our ability to see the bigger picture and anticipate market trends and opportunities will help support your long-term planning. Our network and commodity expertise will help you succeed in complex and volatile markets. And because we apply the highest standards of business conduct even in the worlds fastest moving and least structured markets, you can be confident about doing business anywhere in the world. Cargill ETM serves thousands of customers across the world.

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EXPERTISE
ENERGY TRANSPORTATION METALS

We purchase and deliver energy sources and related commodities including natural gas, coal, power, refined and non-refined oil products, petrochemicals and emissions, in the right quantity and time our customers require.

We operate the worlds largest dry bulk charter fleet of over 420 vessels including capesize, panamax, handy, supramax, handymax and coasters, which gives us access to over 6,000 ports. In addition, we manage a fleet of 20-30 time-chartered tankers at any given time. We have more than 50 years experience serving both our own business and those of our customers.

We are positioned in both ferrous and non-ferrous. In ferrous, we supply our customers with steel raw making materials: iron ore, steel , scrap and finished products. In non-ferrous, we provide them with copper. Through our relationships with mines, mills and steel consumers, our customers benefit from market access and liquidity.

Financial & Risk Management

We offer risk management, investment, and financial solutions for food, financial and energy customers in world markets.

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Cargill Risk Management We structure and market over-the-counter risk management products on agricultural and energy commodities. Since 1994, Cargill Risk Management has worked with businesses to identify their commodity price risk exposures. We then create tailored risk management products that mitigate these risks and protect operating margins.

Black River Asset Management LLC Black River Asset Management LLC, an independently managed subsidiary of Cargill, Incorporated, is a global asset management company that provides sophisticated institutional investors with alternative investment opportunities.

CarVal Investors CarVal Investors is a global leader in managing opportunistic value investments in credit-intensive assets, including

Consumer, residential and commercial and industrial loan portfolios Real estate Corporate securities Special opportunities Food & Beverage Ingredients Foodservice Farmer Services Industrial / BioIndustrial Personal Care Pharmaceutical Salt Our Brands Ground Beef Recall

PRODUCTS & SERVICES Edible oils and Food Ingredients

Cargill foods India processes, refines and markets a wide range of indigenous and imported edible vegetable oils, fats and blends for the food industry. We serve household consumers with packaged, branded and vitamin-fortified edible oils and vanaspati (hydrogenated fats). We also offer high quality food ingredients from our global portfolio and deliver a broad array of ingredient solutions to cater to the growing needs of the food manufacturers and food service industry in India.

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Serving Customers Our customers are in the retail, food service sector and beverage industry. We connect with them at different points of their value chain and contribute to their growth by leveraging on our extensive global portfolio and knowledge base. New product development and applications, supply chain efficiencies, quality and reliability indices are just a few of those leverage points. We also bring in our unique value proposition through customized solutions. Serving Consumers In India, our differentiating factor is our business model. Alongside customers, we serve household consumers with a host of brands including NatureFresh, Gemini, Sweekar and Rath. We fortify all of our packaged refined edible oils with the vitamins A, D and E, which are essential for proper growth, cognitive development and overall health. We reach about 25 million people across India with these brands. Oil Refining Capabilities We own and operate three vegetable oil refineries located at Paradeep (Odisha), Kandla (Gujarat) and Kurkumbh (Maharashtra). These plants are state-of-the-art, combining latest refining technology with trained technical teams.

Our Product Brand Portfolio

Sweekar Sweekar refined sunflower oil comes with a unique blend of High Oleic Sunflower Oil (HOSUN), for improved heart health. HOSUN contains higher Mono Unsaturated Fatty Acids (MUFA) than olive oil. MUFA is good fat and is a healthy alternative to saturated fats; it improves blood lipidprofile and so diets with healthy amounts of MUFA have a host of amazing health benefits. Sweekar is one of the leading premium sunflower oil brands across the country and is available in multiple pack sizes.

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Rath
With more than 50 years of presence in India, Rath is a heritage vanaspati brand. It is a trusted name associated with cooking delicious Indian traditional recipes and sweets. Rath is one of the leading brands in north and central India and is available in multiple pack sizes. Gemini A pioneer in sunflower oil, the Gemini brand spans a wide range of edible oils such as soybean, groundnut, cottonseed, filtered groundnut, mustard oil and Vanaspati. Gemini oil helps in preparing healthy food and retains its freshness for longer time. Gemini is one of the leading brands in west, north and south India and is available in multiple pack sizes. NatureFresh NatureFresh Acti-Lite refined oils ensure that you stay light and active. As proven by laboratory tests, food cooked in NatureFresh Acti-Lite absorbs less oil. The NatureFresh range of oils is available in multiple pack sizes and has many variants. It is available as refined soybean and sunflower oil; NatureFresh Purita, kachi ghani pure mustard oil; NatureFresh Shakti, refined palmolein oil; and NatureFresh Oliante, olive oil imported from Spain. It is one of the leading brands in east and north India.

Food Ingredients
Our customers in the Indian food service industry are increasingly improving their products to address changing consumer preferences. Leveraging our global portfolio and technical expertise, we have introduced a broad range of high quality food ingredients and ingredient systems to cater to different industries. Through these, we ensure that our customers can create the finest experiences across food and beverage products. Our ingredients portfolio include cocoa powder; starch; lecithin; texturisers; emulsifiers; liquid glucose; low-to zero-calorie sweeteners, among others.
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Agricultural Commodities Connecting producers and users of grains, oilseeds, sugar and cotton through origination, processing, marketing and distribution capabilities and services. GRAIN AND OILSEEDS Cargill India is one of the largest originators and marketers of food and coarse grains in India. We handle wheat, corn, rice, pulses, millets, barley and sorghum as well as oilseeds including soybean, rapeseed, groundnut and vegetable oils and meals. We source grains and oilseeds from the domestic market as well as import and export them. Our customers include leading food businesses, flour millers, feed millers, distillers, brewers and starch manufacturers. To ensure quality, price security and supply for our customers, we offer logistical flexibility and bring efficiencies in the supply chain. Leveraging our global market reach, we export corn and soybean meal to the Asia-Pacific region. We import pulses to augment its supply in the Indian market and cater to the growing demand of consumers for vegetable protein. We are present in major grain and oilseeds producing and consuming states in India and operate through regional merchandising and origination offices and multiple storage locations. We process and crush soybean and rapeseed across western and central India. SUGAR: Cargill India originates, stores and supplies raw and plantation white sugar and participates in export and import depending on the surplus or deficit situation in India. We have suppliers in the sugar-producing states of Uttar Pradesh, Maharashtra, Tamil Nadu, Karnataka and Andhra Pradesh and serve a wide range of customers. Our customers include leading sugar manufacturers and food and beverage producers. We also serve customers in Sri Lanka, Pakistan, Afghanistan, Nepal and Bangladesh. We use our global expertise to provide them market insights, logistics management, price protection and quality assurance. Silkroad Sugar is Cargills joint venture sugar refinery with EID Parry. The refinery has a production capacity of 600,000metric tons a year. Located in a Special Economic Zone in Kakinada, Andhra Pradesh, Silkroad Sugar primarily serves the demand from customers in the Asian export market. COTTON: Cargill Cotton, one of the worlds largest and oldest cotton businesses, is respected for its experience, expertise, reliability and commitment to customers. Cargills cotton business can be traced back to 1851 when Ralli Brothers was incorporated in Kolkata (formerly Calcutta) and Mumbai (formerly Bombay). Ralli Brothers was bought over by Cargill in 1981 and in 2002, the name of the cotton business was changed to Cargill Cotton. India is the worlds second largest producer of cotton and cotton textiles. Our operations in India form an important part of Cargills global network of buying, selling and merchandising cotton as well as cotton gins and warehouses that service growers, ginners and textile mills around the world. We have a network of value chain participants who help us source and supply the best cotton into and out of the country. We work closely with both suppliers and users of Indian cotton to strengthen their competitiveness in the global markets making Indian cotton the preferred choice by mills around the world. We offer a range of customer solutions that include price risk management and supply chain management.

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ANIMAL NUTRITION
Cargill is one of the leading suppliers of animal nutrition products worldwide. With our global expertise in supply chain and risk management, we are able to offer distinctive value to meet our customers needs through high quality feed production and efficient distribution. Our market leading brands and on-trend products support the care, growth, and efficiency of various livestock, aqua and leisure animals. We strive to be the best choice in animal nutrition solutions. Our offering includes feed ingredients, feed formulations, management solutions, risk management services, compound feed, premixes, feed additives and customized solutions. We serve the animal nutrition market primarily through two businesses, Cargill Feed and Nutrition and Cargill Premix and Nutrition. We have a network of marketing and branch offices, a technology application center and seven manufacturing facilities in India. We offer compound feed and premix products under several brands including Cargill, Purina, Provimi and Citura.

TRADE AND STRUCTURED FINANCE

Cargills Trade and Structured Finance expertise in financial markets helps our businesses manage risks around letters of credit, other cross-border credit and financial risks associated with trade and commodity finance. We complement the efforts of our businesses by providing treasury, financial and balance sheet solutions for their customers, suppliers and service providers. We focus on addressing financial and risk management issues, providing working capital management and restructuring solutions and offering crossborder trade advisory services and short-term and long-term trade commodity related financing. We also operate a 100 percent foreign owned non-banking financial company titled Cargill Capital and Financial Services India Private Limited.

ENERGY, TRANSPORTATION AND METALS

Cargill Energy, Transportation and Metals (ETM) transparently manages global commodity supply chains for its customers. It offers a unique combination of expertise to develop physical and financial solutions in the natural gas, power, coal, petroleum, petrochemicals, ferrous base metals and ocean freight markets. As both consumer and supplier, ETM combines in-depth analysis of global commodity markets along with practical experience to create the insights that benefit customers. By acting responsibly and thinking innovatively, it helps customers focus on core activities and meet their growth objectives. ETM employs over 1,000people with regional hubs in Europe(Geneva), the Americas (Minneapolis, Houston, New Jersey, Sao Paulo),Asia (Singapore, Shanghai, Beijing, Mumbai) and Africa (Johannesburg).Cargills ETM business in India has grown rapidly in the past five years, based on its customer offerings in ocean freight, coal, iron ore and steel. By working closely with our customers and understanding their needs, we have developed a range of physical and financial solutions that help them optimize the efficiency of their supply chains.

BLACK RIVER ASSEST MANAGEMENT

Black River is a global alternative asset management firm providing hedge fund and private equity solutions to institutional investors. Formed in 2003, Black River is an independently managed subsidiary of Cargill. Black Rivers track record is built on core competencies in fixed income and equity relative value, commodity and emerging markets trading and investing. Capitalizing on its extensive international network

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and relationship with Cargill, Black River combines broad perspectives with focused strategies to deliver portfolio diversification and absolute returns.

In India, Black River provides the following services. Analysis of macro, political and economic developments. Analysis of the domestic investment markets and indices. Identification and due diligence of potential investment opportunities.

NOURISHING INDIA
Indias complexity is a paradox. It is the worlds fourth largest economy (in purchasing power parity terms), has a large number of millionaires and a huge consumer base. On the other hand, it is also a country where a large part of the population, especially children, faces nutritional challenges. Our corporate responsibility programs in India focus on nourishing people and possibilities. We work with partners to provide replicable and scalable solutions to contribute to food security in the country. Nourishing India is a significant initiative in that direction. It is our umbrella program that includes the following multi-pronged interventions: Improving Food and Nutrition Security Improving Education and Livelihoods Supporting Community Development Improving food and nutrition security: We contribute to food security by providing consumers with nutritious food that helps improve diets for healthier lives. We collaborate with partners in the public and private sectors to find long-term solutions to hunger and malnutrition to ensure people have access to safe, nutritious and affordable food. Fortifying edible oil Food fortification is one of the most effective ways to deliver micro-nutrients to large population groups as edible oil is consumed by almost 99 percent of households in India. We fortify all our packaged refined edible oils produced in India with the essential vitamins A, D and E. At present we reach approximately 25 million consumers with our fortified oils. The cost of fortification is absorbed by us and not passed on to our consumers. Enabling food banks Together with Global Food Banking Network and Aid matrix Foundation, we have established the India Food Banking Network and the first food bank of India --Delhi Food Banking Network. The food bank is expected to harness the partnership between the government and the private sector to augment existing initiatives as well as develop new models in food distribution. It will allow donors to gain access to safe and efficient distribution channel that provides an outlet and an effective system for donated or procured food to reach those who need it the most. We are working towards setting up more food banks across India. Fighting malnutrition In three districts of Madhya Pradesh, Cargill is working on a two-year partnership with United Nations World Food Programme (UNWFP) to develop a model state demonstrating improvement innutrition. From educating communities to providing seeds for kitchen gardens, we are working to improve nutrition in the region. Funded with US$ 3 million, the project titled Fast Track Nutrition Program aims to reach 766
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villages and benefit by 2013 more than one million people, especially children under the age of six and pregnant and lactating women. Engaging policy stakeholders In association with our partners such as Global Alliance for Improved Nutrition (GAIN) and UNWFP, Cargill engages with key stakeholders including the central and state governments to advocate for food fortification and to make fortified food available through the governmentrun public distribution systems. Improving education and livelihoods: A five-year partnership between Cargill and CARE, a leading humanitarian organization fighting global poverty, focuses on addressing underlying causes of poverty in the district of Kutch in Gujarat through Kutch Livelihood Education Advancement Project. The economy of Gujarat is among the fastest growing in India. Yet hunger, illiteracy and extreme poverty persist in Kutch. Through the US$ 2.5 million Kutch Livelihood Education Advancement Project (K-LEAP), the five-year Cargill-CARE partnership is working to improve the quality and accessibility of primary education for more than 40,000 children, while promoting economic opportunities and increased incomes for 9,000 rural families. The project was launched in 2008. Improving milk production Most farmers in Kutch depended on subsistence farming when the project began. As dairy farmers could produce only a limited amount of milk, the area lost its market with the National Dairy Development Board. We worked to bring farmers together to pool their milk supplies at collection stations and negotiated with the Board to reinstate agreements and purchase milk again. Farmer incomes have increased by400 percent ever since. Providing girls with access to education As a part of K-LEAP, we are working to improve girls access to education, recognizing it as the cornerstone of empowerment. When we began our work with Kasturba Gandhi Balika Vidyalaya in Kodki village, there were only 17 students. Today, 85 students are enrolled. Based on this success, we expanded our education improvement outreach to include more than130 schools, providing science demonstration kits, textbooks, teacher training, sports equipment and new curriculum to improve students success. Empowering women Women in Kutch were traditionally confined to their homes, with limited ability to even socialize with other women in their community. We recognized an opportunity to motivate them to invest in their own future by organizing self-help groups. Seed money from Cargills donation is now provided to the groups. With that, they are able to pool their own resources and distribute micro-loans for various needs including purchase of farm equipment and setting up small enterprises. Today, more than 5,000 women in Kutch are members of self-help groups and are working to reduce poverty caused by limited access to credit.

Supporting community development We invest and support programs that focus on improving nutrition and health, education and environment in communities where we operate. Aiding education for underprivileged children

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We support the Pragati Vatika School in Gurgaon by funding all school expenses and improving infrastructure to help the school cope with rising demand. The school has over 300 children of daily wage laborers. Our employees volunteer as teachers and mentors. We support Rural Development Foundation (RDF), an NGO that runs five schools and one junior college in the rural areas of Andhra Pradesh. At least 570 students in the RDF Kalleda School have been able to continue their education while 25 students in RDF Matendla School have benefited through direct sponsorships. In partnership with NGO, ASED (Action for the support of deprived children),we have improved transportation, built more classrooms and set up computer and English-learning laboratories for 1100 students in Pardada Pardadi Girls Vocational School in Anoopshahr, Uttar Pradesh. We supported the Rabbani School in Madhya Pradeshs Susera village with a school bus, classrooms and sanitation facilities. The school, with 400 students, is a center for education and practical training in agricultural practices and animal farming. The project was implemented by ASED. We supported the Rajanagaram Zilla Parishad School in Rajahmundry, Andhra Pradesh, by building a multipurpose hall to serve the needs of both teachers and students. The school is managed by the government and has 950 students. Providing care to kids of construction workers We support Mobile Crches, an NGO, to ensure a healthy and secure daycare environment for children of labourers who work at construction sites. These daycare centres create favorable conditions for their cognitive development by providing nutritious food and basic education. We also support Mobile Creches for providing skill-building opportunities to the mothers and for creating awareness among stakeholders on issues affecting these women and children. Training in modern animal husbandry We provide farmers the knowledge and tools they need to improve the productivity and health of their animals. The initiative has benefited 25,000 dairy, poultry and aqua farmers across the southern and western regions of India. Extending support in times of crisis As a member of the Corporate Disaster Resource Network, we provide leadership in bringing corporates into the fold of the National Disaster Management Authority for joint response to any disaster. We have distributed food and funds during the super-cyclone and flash floods in Odisha and floods in Bihar and Leh.

FINANCIAL HIGHLIGHTS
In fiscal year 2012, Cargill had $133.9 billion in sales and other revenues. Earnings from continuing operations were $1.17 billion. US Dollars in millions Sales and other revenues Net earnings Cash flow from operations 2012 $133,859 $1,175 $3,507 2011 $119,469 $2,693 $4,551 Percent change 12 (56) (23)

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INTRODUCTION TO INDIAN SPICES

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A COMPREHENSIVE UNDERSTANDING OF THE INDIAN SPICES MARKET IN THE CONSUMER SPACE: A BRIEF BACKGROUND
A spice is a dried seed, fruit, root, bark, or vegetative substance primarily used for flavoring, coloring or preserving food. Spices are an integral part of Indian food, with consumption not only in households, restaurants and other eateries but also in food processing industry such as pickles, sauces, instant curry powders, ready-to-eat food preparations and so on. Spices are fast moving consumable items and have large potential. India produces 70% of global spice production. India was the largest producer and consumer of spices with a production of around 5.93 million tons in 2010-11

TYPES OF SPICES Red Chilli Turmeric Coriander Cloves Pepper Green/Black Cardamom Asafoetida (Hing) Cumin Seed (Jeera) Dried fenugreek leaf & many others.

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FORMS OF SPICES

STRAIGHT

WHOLE

BLENDED

MANUFACTURING PROCESS

Cleaning & Washing

Drying & Grinding

Sieving

Packing

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SPICE GROWING STATES OF INDIA

Andhra Pradesh Karnataka Gujarat

Orissa

Rajasthan

Chilli
Tamil Nadu Uttaranchal
Uttar Pradesh West Bengal Madhya Pradesh

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Andhra Pradesh Karnataka

Arunachal Pradesh

Orissa

Maharasthra

Tamil Nadu

Tripura

Turmeric
Kerala Meghalaya

Assam Uttar Pradesh

West Bengal Bihar

Uttar Pradesh

Coriander

Rajasthan

Uttaranchal

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SITUATION ANALYSIS
Changing of Life style and especially with changes in food habits and increase of Income level, the use of powdered spices has increased. Of late, the market for ready mix of spices has grown significantly. Numbers of National brands have appeared in the market such as Everest, MDH, Catch, Roopak Masala, etc. besides these, some of local brand are also there in the market. In addition there are numbers of small units producing powdered spices, both in loose as well as packet formed.

SIZE AND CONSTRUCT OF THE MARKET

SPICE WISE AREA & PRODUCTION
2008 09 Spices Pepper Cardamom(Small) Cardamom(Large) Chilli Ginger Turmeric Coriander Cumin Celery Fennel Fenugreek Ajwan Dill seed Garlic Tamarind Clove Nutmeg Cinnamon Saffron Grand total including others 2948558 GRAND TOTAL IN MLN TONNES 5387092 5.39 2899887 5286552 5.29 3043583 5933126 5.93 3213180 5951281 5.95 Area 181299 71170 27034 802896 143861 195076 537327 527132 4117 74149 74512 26148 13139 190468 54281 2172 16400 186 2667 Prodn. 50000 11000 4300 1381531 831607 894590 471515 283000 5329 114277 97533 18301 13363 1003758 194087 1002 11362 363 5.93 2009 10 Area 198986 71110 27034 809699 142089 187535 530789 517133 4312 53497 71985 20628 8537 187271 44186 2081 16001 150 2691 Prodn. 50000 10075 4180 1470352 708256 927912 501485 303943 5248 83576 88979 8950 10447 975404 125524 764 11271 30 4.86 (Area in Hec, Production in Tonnes) 2010 11(P) 2011-12(Adv.Est.) Area 183780 71012 26984 716428 167432 232022 474250 625087 3776 81890 94760 27257 26698 202888 56530 2195 17760 187 2715 Prodn. 48000 10380 3918 1299191 937043 1268280 372366 403744 4609 125710 127850 19327 33090 1085740 203936 963 12088 36 7.99 Area 201381 71285 26460 804792 155063 223452 557870 593980 4174 99554 93605 35376 21900 242491 58428 2387 17485 508 2989 Prodn. 43000 15000 3860 1276301 755618 1171054 532947 394328 5264 142949 115929 26778 23632 1228324 202574 1105 12574 35 9

Source: Spice board of India. 26 | P a g e

1000000 800000 600000 400000 200000 0

CHILLI

2009-10 Production

2010-11 Production

250000

CHILLI

200000

150000

100000

50000

2009-10 Area

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500000 450000 400000 350000 300000 250000 200000 150000 100000 50000 0

TURMERIC

ANDH MAHA WEST UTTAR GUJAR MIZOR ASSA MEGH TRIPU KERAL RA TAMIL ORISS KARN RASHT BENG ANCH PRADE NADU A ATAKA AT AM M ALAYA RA A RA AL AL SH 69159 51446 26830 18035 13876 15779 1936 4500 14963 1928 1295 9522 798 6651 2391 6216

2010-11(P) Area

2010-11(P) Production 466928 277980 202920 90448 66791 38300 28468 22500 10623 10058

Analysis: According to the figure, Andhra Pradesh has highest production level of Turmeric followed by Tamil Nadu, Orissa & Karnataka. Whereas, Kerala is at the bottom of the list.

250000 200000 150000 100000 50000 0 RAJASTHAN MADHYA PRADESH

218899

CORIANDER

70872

21568

32634

13749

11200

3444

ASSAM

GUJARAT

ANDHRA PRADESH

ORISSA

UTTAR PRADESH

2010-11(P) Area

2010-11(P) Production

Analysis: Rajasthan holds the maximum share of producing coriander in the Indian Market. In 2009-10, production was 281076 tons having area 232139. In 2010-11, it was about 218899 tons with area of 197891. Whereas other states also contribute in producing coriander like UP, which is 3444 tons in area of 6082 in 2010-11
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200000 180000 160000 140000 120000 100000 80000 60000 40000 20000 0 Area 19706 171489 2786 Production 2009-10 KARNATAKA KERALA TAMIL NADU 15000 27500 7500 21061 172182 3009 Area Production 2010-11(P) 18240 20640 9120

Analysis: Kerala shows the highest share of producing Pepper in 2009-10 & 2010-11. In Kerala, Pepper production reached 20640 tons in the year of 2010-11. This is a decrease of 24.94% compared to 2009-10. Apart from Kerala, Karnataka & Tamil Nadu showed growth in 2010-11.

Cumin Seed
350000 300000 250000 200000 150000 100000 50000 0

Area 311755 203854

Production 2009-10 221906 80531

Area 292847 330634

Production 2010-11(P) 219215 114925

GUJARAT RAJASTHAN

Analysis: Gujarat & Rajasthan are the major states producing Cumin Seed. In Gujarat, area under production have decreased in 2010-11 as compared to 2009-10 and so on the production. However, in Rajasthan, the scenario is reversed both the area under production and production have increased marginally.

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Major State wise Area & production of Spices in India

2008-09 State Andhra Pradesh Arunachal Pradesh Assam Gujarat Karnataka Kerala Madhya Pradesh Maharashtra Meghalaya Mizoram Orissa Punjab Rajastan Sikkim Tamilnadu Uttar Pradesh Uttaranchal West Bengal )Area- Hec ) 007233 1711 17210 270203 776000 702076 772727 000026 00002 76770 072073 02271 206172 00207 001777 26007 2220 007107 )Prdn-tons) 0706121 20206 706127 223030 672227 002703 007122 16063 60222 11677 737003 66137 202172 72076 717222 770026 21112 731276 2009-10 )Area-Hec) 002700 1000 17227 726733 722063 727722 762271 003633 00037 00773 072133 01277 222671 00371 006123 22671 1767 000761 )Prdn-tons) 0766122 22201 771203 271210 060272 077733 012627 16733 62010 23733 706273 21212 260621 70223 711010 017067 62712 700071 2010-11 (Adv) )Area-Hec) 710100 1700 17032 721270 700772 727663 NA 20203 07030 01761 766103 01637 237702 70621 070063 26677 1216 007011 )Prdn-tons) 0020020 21620 011260 217636 731273 002167 NA 710707 67163 030701 711113 62267 623207 0003 023232 730010 20176 700207

Grand Total Including Others

8?:>;;>

;9>=8?8

8>??>>=

;8><;;8

98:9;>9

;?9938<

Source: Spice Board of India

30 | P a g e

Spice/State Wise Area and Production of Spices

(Area in Hectare, production in Tons)
SPICE PEPPER STATE Area KARNATAKA KERALA TAMIL NADU Total including others CARDAMOM(SMALL) KERALA KARNATAKA TAMIL NADU Total CARDAMOM(LARGE) SIKKIM WEST BENGAL Total CHILLI ANDHRA PRADESH KARNATAKA WEST BENGAL MADHYA PRADESH ORISSA MAHARASHTRA GUJARAT TAMIL NADU PUNJAB RAJASTHAN ASSAM Total including others GINGER KARNATAKA ORISSA ASSAM MEGHALAYA ARUNACHAL PRADESH 18847 153711 3117 181299 2008-09 Production 6236 33991 716 50000 19706 171489 2786 198986 2009-10 Area Production 15000 27500 7500 50000 2010-11(P) Area 21061 172182 3009 201381 Production 18240 20640 9120 48000

41588 25021 4561 71170 23729 3305 27034 210792 125965 63249 47332 75510 97200 31810 62617 10414 15157 17010 802896

8550 1700 750 11000 3675 625 4300 781671 143481 96002 58455 64300 45400 36215 32924 17256 19976 10862 1381531

41593 24956 4561 71110 23729 3305 27034 206541 138711 63450 54414 75530 97200 32854 58476 10524 13812 17111 809699

7800 1550 725 10075 3540 640 4180 830990 144044 95765 90569 64320 45400 42305 31230 17492 13649 11727 1470352

41242 25209 4561 71012 23679 3305 26984 195471 113849 63618 54414 76010 34604 36570 53626 10555 13381 18808 724065

7935 1710 735 10380 3310 608 3918 638298 128806 96216 90569 70390 71749 48051 21690 17912 14425 12237 1303820

29092 16530 15220 9283 6356

273253 33370 103915 50286 47181

44837 16840 15690 9321 6401

135031 117720 107893 54009 49663

46511 17120 16386 9438 6601

168310 126530 112548 52922 52304

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GUJARAT UTTARANCHAL SIKKIM MIZORAM KERALA WEST BENGAL ANDHRA PRADESH Total including others TURMERIC ANDHRA PRADESH TAMIL NADU ORISSA KARNATAKA MAHARASHTRA WEST BENGAL GUJARAT MIZORAM ASSAM MEGHALAYA TRIPURA UTTARANCHAL KERALA Total including others CORIANDER SEED RAJASTHAN MADHYA PRADESH ASSAM GUJARAT ANDHRA PRADESH ORISSA UTTAR PRADESH Total including others CUMIN SEED GUJARAT RAJASTHAN Total including others

3408 2600 9237 9391 7421 11131 2194 143861

49504 31288 40866 34290 30809 23832 11684 831607

3170 4007 6700 6200 5408 11221 2317 142089

47694 40418 35970 31000 28603 24128 16674 708256

4378 4153 6700 NA 6088 11406 2472 170957

69581 41944 35970 NA 33197 24606 23054 942860

61607 34637 25110 15320 6799 15212 1686 9627 14459 1959 841 692 2782 195076

403228 172334 61500 93817 8497 35372 23305 39855 10497 10046 5664 6740 6364 894590

59475 33368 25320 17872 6800 15464 1759 4500 13883 1953 841 738 2438 187535

364044 169311 189350 65780 8600 36390 25015 22500 9719 9991 5965 6126 6066 927912

69159 51446 26830 18035 13876 15779 1936 4500 14963 1928 1295 798 2391 232543

466928 277980 202920 90448 66791 38300 28468 22500 10623 10058 9522 6651 6216 1271250

250516 141393 24483 27347 33439 19090 5774 537327

280306 59075 39480 38420 15615 9140 3417 471515

232139 150464 24531 28675 37468 19060 6742 530789

281076 70872 46865 42649 20605 9440 3805 501485

197891 150464 21741 20561 20313 21380 6082 474244

218899 70872 21568 32634 13749 11200 3444 403740

359938 165703 527132

242165 39362 283000

311755 203854 517133

221906 80531 303943

292847 330634 625150

219215 114925 335800

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CELERY SEED FENNEL SEED

PUNJAB Total GUJARAT RAJASTHAN WEST BENGAL UTTAR PRADESH Total including others

4117 4117 64867 7499 1028 697 74149

5329 5329 106498 6249 1029 489 114277

4312 4312 42833 8754 1034 875 53497

5248 5248 76128 5601 1033 814 83576

3776 3776 52792 26967 1034 842 81890

4609 4609 97504 26157 1033 740 125710

FENUGREEK SEED

RAJASTHAN GUJARAT HARIYANA WEST BENGAL UTTARANCHAL Total including others

62894 4296 3442 2444 400 74512

77319 10308 1700 2585 2540 97533

58917 4399 5356 2451 433 71985

70328 9015 4300 2649 2532 88979

80378 5244 5241 2452 461 94760

94200 13910 12157 2650 2951 127850

AJWAN SEED

RAJASTHAN GUJARAT Total including others

15240 5536 26148

13456 2843 18301

15483 5145 20628

5450 3500 8950

16896 5299 27257

12595 4334 19327

DILL SEED

GUJARAT RAJASTHAN Total including others

8231 2016 13139

9729 1282 13363

7544 531 8537

7851 453 10447

21774 4533 26698

28824 2430 33091

GARLIC

GUJARAT MADHYA PRADESH UTTAR PRADESH RAJASTHAN ASSAM MAHARASHTRA PUNJAB ORISSA WEST BENGAL UTTARANCHAL KARNATAKA HARIYANA CHHATTISGARH

36580 49080 33421 21562 8228 6142 2997 11080 3480 1083 6757 460 941

234439 207441 196850 101937 47076 41283 44217 35800 33319 6994 34407 3100 2372

35733 52207 31886 24670 8392 5600 3514 11050 3521 1177 4698 729 984

245124 224365 169342 98411 48128 41400 38441 35710 33744 7264 6603 6500 2519

35898 52207 32776 31440 7368 6143 3735 13120 3535 1261 4234 3538 1083

250085 224365 175851 186410 27198 41281 41314 45760 33879 8450 5467 28216 2564

33 | P a g e

Total including others TAMARIND KARNATAKA TAMIL NADU ANDHRA PRADESH KERALA Total including others CLOVES TAMIL NADU KARNATAKA KERALA ANDAMAN & NICOBAR Total including others NUTMEG KERALA KARNATAKA ANDAMAN & NICOBAR Total including others CINNAMON ANDAMAN & NICOBAR KARNATAKA Total including others SAFFRON JAMMU & KASHMIR Total Grand Total Including others

190468

1003758

187271

975404

203478

1085740

15880 18160 6068 14107 54281

81814 61484 29391 20954 194087

15163 19785 6020 12715 44186

82029 63584 30581 19627 125524

15163 18028 5930 11924 56531

82029 56655 28345 31794 203936

782 122 1101 167 2172

751 174 73 4 1002

719 90 1206 156 2081

675 113 84 5 764

765 90 1123 156 2195

714 113 90 5 963

16187 147 66 16400

11249 110 3 11362

15931 115 70 16001

11269 77 3 11271

17545 115 70 17760

11911 77 5 12088

78 37 186

8 7 363

150 34 150

31 5 30

150 34 187

30 5 36

2667 2667 2948558

5.93 5.93 5387092

2691 2691 2899887

4.86 4.86 5286552

2715 2715 3043583

7.99 7.99 5933126

Source: Spice Board of India

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BRAND OPTIONS

There are number of Spices companies in the market, which are satisfying the needs and wants of the consumers. List of all the brands name are as follows: MDH EVEREST CATCH BMC MTR MOTHERS RECIPE ROOPAK MASALA NILONS SHAAN ASHOK MASALE NATIONAL LAZIZA SUHANA STORE BRANDS

EVEREST
Everest Spices is an Indian manufacturer, distributor and exporter of ground spices and spice mixtures under the brand name Everest. It is Indias largest spices brand based in Mumbai. More than 20 million households use Everest spices regularly. The brand is stocked by 400,000 outlets in more than 1000 towns across India. Everest is a major exporter to the US, the Middle East, Singapore, Australia, New Zealand, East Africa and other countries. More than 3.705 billion packs of Everest sold each year. There more than 42 blends under the Everest brand name. Winner of SUPERBRAND award for the best consumer brand for the years 200304, 2006-07 and 2009-2010 and Consumer Reaction Award (twice in a row, in 2004 and 2005) and others. Everest spices are also available in the USA, Middle East, Singapore, Australia, New Zealand, East Africa, and in many other countries, where non resident Indians trust Everest to provide them the authentic taste of home.

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PRODUCT RANGE

TABLE TOP SPRINKLERS

Pure Ground Spices

Tikhalal, Kashmiri Lal, Kutilal
Turmeric,

Exotic Blended Spices

Garam Masala, Pav Bhaji Masala, Chole Masala, Sabji Masala
Chicken Masala, Meat Masala, Egg Curry Masala, Tandoori Masala

Chaat Masala

Black Pepper Powder

Coriander, Cumin Powder Hing, Saffron, Kasuri Methi, etc

Free Flowing Table Salt

Jaljira, Rasam Masala, Super Sambhar Masala etc

MDH
Mahashian Di Hatti Limited is an Indian manufacturer, distributor and exporter of ground spices and spice mixtures under the brand name MDH. It specializes in several unique traditional blends of spices suitable for different recipes. The company was founded in 1919 by Mahashay Chuni Lal as a small shop in Sialkot. It has since grown in popularity all over India, and exports its products to several countries. It is associated with Mahashay Chuni Lal Charitable Trust. The MDH brand name is very well known throughout India.Today has a range of 52 products available in over 140 different packages. Machines used by MDH, have a capacity to produce 30 tons of spices in powders packed in beautiful consumer pack of different sizes (10g to 500g) in a day. Maximum selling is of Basic Spices (Chilli, Turmeric, and Coriander & Garam Masala). Chunky Chat Masala is also very famous.

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PRODUCT RANGE
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 AMCHUR POWDER BIRYANI PULAO MASALA BLACK SALT BUTTER CHICKEN CHANA MASALA CHICKEN MASALA CHUNKY CHAT MASALA CHUTNEY PODINA MASALA CURRY POWDER DAHIVADA RAITA MASALA DALMAKHANI MASALA DEGGI MIRCH DHANIA POWDER FISH MASALA GARAM MASALA GOLDEN GARAM MASALA KASHMIRI MIRCH JEERA POWDER 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 KASOORI METHI KITCHEN KING LAL MIRCH POWDER MEAT KA MASALA PAKORA MASALA PANI PURI MASALA PAV BHAJI MASALA PULAO MASALA RAJMAH MASALA SAMBAR MASALA SHAHI PANEER MASALA TANDOORI CHICKEN MASALA TAVA FRY MASALA T-PLUS MASALA WHITE PEPPER POWDER HALDI POWDER JAL JEERA MASALA

CATCH SALTS & SPICES

Catch Spices is Indias foremost spices brand known for its matchless product quality and innovative approach. Catch spices are ground using the unique state-of-the-art Low Temperature Grinding (LTG) technology, which prevents the evaporation of volatile & delicate oils from spices. Catch Spices thus retain the original aroma and wholesome flavour of authentic spices. The complete assortment comprises of a variety of salt and pepper sprinklers and a diverse range of whole, ground and blended spices. Catch Spices are packed in food grade metal-lined cartons, flexible laminates and convenient composite cans available in a variety of pack sizes Catch is available across 6 categories including Sprinkles, Basic, Blended, Straight Premium Spices. Whole Spices and Hing with around 63 variants and over 150 SKU's.

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PRODUCT RANGE
Whole Spices
Amchur Anardana Bay Leaf (Tej Patta) Black Pepper whole Cardamom-Big Cardamom-Green Cinnamon Stick Cloves Dhania Whole Ginger Whole Javitri Jeera Jeera Black Khus Khus Kachari Kashmiri Red Chilli Whole Kaloungi Methi Seeds Mustard Powder NutMug Rai Whole Red Chilli Whole Saunf Sounf Cooking Turmeric Whole White Til

Straight Spices
Amchur Powder Ajwain Powder Anardana Powder Bay Leaf Powder Black Pepper Powder Black Salt Cardamom Green Powder Cardamom Black Powder Chilli Flakes Cinnamon Powder Clove Powder Dhania Powder Ginger Powder Javitri (Mace) Powder Jeera Powder Kashmiri Mirch Powder Kasuri Methi Kuti Mirch Mustard Powder Red Chilli Powder Turmeric Powder White Pepper Powder Salt

Blended Spices
Chana Masala Chat Masala Chatpata chat Masala Chole Masala Chicken Masala Dal Makhani Masala Fish Masala Super Garam Masala Garam Masala Kitchen King Meat Masala Jal Jeera Pav Bhaji Masala Rajma Masala Sambhar Masala Shahi Paner Masala Subji Masala

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High Quality

Low Price

High Price

Store Brands

Low Quality

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PRODUCT LINE

Everest: Exotic Blended spices (22 in number) Pure Ground Spices ( 14 in number) Table Top sprinkles MDH: Blended Spices ( 25 in number ) Straight Spices ( 7 in number) Catch: Sprinkles Whole Spices ( 27 in number ) Blended Spices ( 17 in number ) Straight Spices ( 23 in number)

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RESEARCH METHODOLOGY

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RESEARCH TECHNIQUES FOR "UNDERSTANDING INDIAN SPICES MARKET"

The numbers of research techniques are used for appropriate information for Indian Spices Market. Different methodology is employed according to the objective and scope defined for research. Basically there are two methods: A. Desk Research or Secondary Research B. Field Research or Primary Research DESK RESEARCH/SECONDARY DATA Desk or secondary research is the search for information from relevant data already available. The data could take the form of information from censuses or information readily available from industry directories. Internal sources i.e. company itself Internet sites of various agencies/organizations Publications(books, magazines, journals, newspapers) Market study/survey reports. Catalogues of MNCs or leading world manufacturers. Company profiles Market intelligence reports

FIELD RESEARCH OR PRIMARY RESEARCH Field research is employed to collect primary data by: Observation method Survey method Field Research focuses on consumer or buyers motives (e.g. Why they will buy your product instead of your competitors product), which forms the basis of the positioning strategy. The process of conducting field research in understanding the Indian Spices Market includes: Visiting the retailers shops Planning of visits Seeking /making appointments with target companies/organizations Questionnaire
42 | P a g e

OBJECTIVES OF RESEARCH STUDY

To study the Indian Spices Market. To study the Size and Construct of the market: Tonnages & Values. To study the Regional Disparities: Size, Taste, Offerings etc. To study the Brand Options. To study the Brand Positioning. To study the Price Positions. To study the sourcing options.

RESEARCH METHODOLOGY
The data for understanding the Indian Spices Market was based on: Primary Research. Secondary Research.

DATA COLLECTION METHOD

Primary Data: Visited various consumers and retailers of different areas of Delhi /NCR Secondary Data: Internet, journals, magazines. Data Collection Device: Personal Interview through questionnaire. Sampling Size: -Total Sample: 100 -Retailers : 50 -Consumers: 50 -Area of survey: Delhi/NCR -Duration: 42 days The sources for unpublished data are many, for example relevant data may be available with scholars and research workers. However, these sources are not easy to access and need a lot of persuasion and lot of time. The researcher has not used such resources given the limitation of time available. The researcher has made used secondary data in formulation of research problem and identification of research objectives. Due care was taken to assess such data for its suitability for the study, because many such secondary data was found to be irrelevant to the research problem as also inadequate in the context of the problem which researcher want to study.
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DATA INTERPRETATION

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DATA INTERPRETATION (BASED ON CONSUMERS QUESTIONNAIRE)

Q 1) Gender Analysis: 45 40 35 30 25 20 15 10 5 0
Are You :

42

8
Male 8 Female 42

Analysis:
The above graph shows that out of 50 samples, 84 % is of females and 16 % is of Males.

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Q2) You are?

20 18 16 14 12 10 8 6 4 2 0 Student Professional

20

13

14

Housewife

Others

You are a

Analysis: The above graph shows that out of 50 samples, 40 % is of Housewives, 28 % is of Professional, 26% is of Students and rest 6% includes others.

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Q3) In which form Consumers buy Spices?

2% 16%
Packed loose Both

82%

Analysis: According to the figure, 82% consumers prefer to buy packed spices where as 16% people are going with loose. Whereas, a combination of 2% buy spices in both.

Q4) Source of Information?

22% 44% 4%

26% 4%

TV

Newspaper

Recommended

Passing By

Others

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Analysis: 44% gets information about brands through TV. 26% shows consumers buy particular brand of spices as recommended by somebody. 4 % each shows knowledge of spices brand is available through newspaper and passing by.

Q5) Preferred Place to buy spices?

30 25 20

26

18
15 10 5 0
Retail Outlet Super Market Whole-sale

2
Other

Analysis: 52 % shows that consumers prefer to buy from retail outlet. Whereas, 36% shows its Super Market. 8% & 4% conclude whole sale and other places.

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Q6) How frequently consumers buy spices? 35 30 25 20

30

15
10 5 0
Per Month

17

3
Per Week Other

Analysis: According to the figure, 30 out of 50 customers buy on monthly basis. However 15 prefer to buy on weekly basis. Others include 3 out of 50.

Q7) Reasons for buying particular spices brand?

25 20 15 10 5 2 0 Convenient Availability Price Quality Brand 6 25

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Analysis: 50 % consumers buy particular brand of spices because of Quality factor. 18 % include its price, which influence consumers buying decisions. Whereas, 16 % & 12 % includes brand and availability.

Q8) Preferred Brand of Spices?

35 30
29

25 20 15 10 5
4 5 8 4

0 MDH Catch Everest Store Brand Others

Analysis: According to fig, MDH is the most preferred brand of the consumers with 58%. Whereas, Store brand & Everest are 16% & 10%. However Catch & Other Local brands are 8%.

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DATA INTREPRETATION (BASED ON RETAILERS QUESTIONNAIRE)

Q1) Do you offer loosed or packed spices?

2% 8% Packed Loosed Both

90%

Analysis: According to the figure, 90% Spices are sold in packed form and 8% as Loosed, whereas 2% shows a combination of both.

Q2) In which form customers buy the spices more?

22%

0% 0% Straight Whole Blended

78%

All

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Analysis: According to the pie- chart, 78% spices are available in the market as a combination of all forms: -Straight, whole, Blended, where as22 % shows Consumers buy spices in blended form.

Q3) A Major chunk of your sale is through?

whole & retail sales 22%

retail sales 78%

Analysis: About 78% sale of Spices by retailers is done through retail sales. 22% shows retailers sell spices in both ways : -Whole Sale - Retail Sale

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Q) Which pack has more selling?

2% 6% below 250gms 20% between 250-500gms more than 500gms All of the above

72%

Analysis: Referring to the graph, the sale of 250gms is more (according to 72% retailers), 20% retailers have view that between 250-500gms pack has more sale. 6 % retailers said that 1more than 500gms has more sale.

Q) What attracts customers while buying spices?

25 22 20 15 15

10

0 Taste Quality Price Brand of the spices Packaging

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Analysis: The above graph indicates that quality attract more, it has been stated by 22 retailers out of 50, according to 15retailers it's the brand of the spices which attracts the customer more,8 said that price attracts the customer, and 3 & 2 have their view that its taste and packaging which attracts the customer more

Q) More margins given by?

Everest 2%

Store Brand 32%

MDH 54% Other 8%

Catch 4%

Analysis: The graph indicates that 54 % retailers have said that MDH gives them more margin as compared Store brand, whereas 32% have clearly said that Store brand are giving them more margin than any other brand, while the rest of 8% said that other spices company gives them more margin.

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Q) Demand for Spices has risen in the past few years?

30

25

20

15

10

0 yes no average

Analysis: According to the graph, 48% retailers said yes whereas, 46 % said no. Rest said its average.

Q) Good Distributor?
35 30 30 25 20 15 15 10 5 2 0 everest mdh catch other all 1 2

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Analysis: The above graph indicates that out of 50, 30 retailers have their opinion that MDH has the good distribution network, whereas 15 retailers have their view that other brand is having a good distribution network, and remaining 2 & 1 said that companies like Everest and catch have good distribution channel.

EACH DEALER SURVEY

Each Dealer Survey means the information of all the outlets. It measures the every outlets problem, requirements, and asks their satisfaction with the Company.

In this procedure we go to each shop and meet the shopkeeper. There are different region &different shopkeeper having unique nature. Some are satisfied with Coke and some are not. Sometimes they talk in a rude manner and sometimes they are polite due to satisfaction. We not only try to solve their problems by forwarding it to higher authority but also convince them to sell more and more by providing them immediate offer within one week.

Their problems would be refrigerators not performing well, light is not working, cooling problem, carelessness of salesman who does not maintaining the orders, not going to every outlets daily

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LIMITATIONS
Findings are based on the views expressed by the consumers. So it may suffer from biased prejudices. It is extremely difficult to persuade retailer to respond to questionnaire. Some of the respondents were not co-operative and many seem to be having no interest. The study has not been intended on a very large scale, have the possibility of errors, which cannot be ruled out. There was a time limitation. Area was specified. Sometimes the weather conditions were not favorable. I had lack of knowledge about the product and the local market. The time allowed for the project was very short. It was impossible to study deeply in that short period.

SOURCING OPTIONS
Brands like MDH, Everest & Catch are having own manufacturing plants. MDH is having number of manufacturing plants. Few are at Delhi, Gurgaon, Rajasthan, Ghaziabad (U.P.) Amritsar & Ludhiana (Punjab). Catch is having 23 manufacturing units in all over India. Whereas, Local sellers are buying in bulk from whole-sale market, grinding & packaging the spices and selling consumers as its own brand, however targeting only restricted market.

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RESEARCH FINDINGS
PRODUCT:

Consumers prefer to buy packed spices. Preference is Quality Product. Spices are in all forms bought by consumers. 250 gms quantity is preferred by consumers. PRICE: Based on value and competitive pricing. Selling basic spices of 100gms packet in the price bracket of Rs 30/ Consumers get spices at a rate less than MRP, example: 100 gms of MDH Chilli powder cost Rs 27/- is available at Rs 22, which is Rs 5 less than MRP. PLACE: Distribution - Grocery shops -Super markets -Food Bazaars Capturing Wholesale markets.

PROMOTION: Promotion is done through TV ads, Newspapers, Magazines. Providing gift hampers on festive season to increase their sale volumes. Facility of credit is also provided to retailers.

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RECOMMENDED STRATEGY
Product: Companies should launch the basic spices like Chilli, Turmeric, Coriander & Garam Masala. Company should launch its product in the packet below 250 gms. Price: Pricing strategy should be based on relative prices of the other brands/ value-based & competitive based.

Place: Distribution through organized retail malls like: -Food Bazaar -Hypercity -Grocery Shops, etc. Online distribution for bulk purchases for Industrial market.

Promotion: Newspaper- source of communication available to all and used by all sections of people. Promotions through few cooking shows on television. Billboards, Public Space, Hoardings etc. Credit facility should be provided to retailers. Small sachet at discounted price to offer consumers to try before you buy.

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QUESTIONNAIRE FOR CONSUMERS ON SPICES

Name: Occupation:

Q1) Do you buy packed spices or loosed? ______________________________ Q2) Source of Information from which you come to know about different brands of spices. a) TV b) Newspaper c) Recommended by someone d) Passing By e) Other

Q3) From which place you prefer to buy? a) Retailer Outlet b) Super Market c) Whole-sale d) Other

Q4) How frequently do you buy spices? _________ time per month _________ per week _________other

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Q5) Reason for buying this particular brand of product? a) Convenient b) Availability c) Price d) Quality e) Brand f) Other

If Yes, please specify the reasons _______________________________________________________________________________________ ___________________________________________________

Q6) Please rank the following factors in the order of important to you when making a buying decision for spices (1-being most important,5- being lease important) ___________ Price _____________Referral ___________ Brand ____________Location _____________Other

___________ Availability

Q7) Which brand of Spices you prefer the most? _____________________________________

Q8) What do you consider a reasonable price for the average bottle/ packet of spices? ____________________________________________

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QUESTIONNAIRE FOR RETAILERS ON SPICES

Name of the Retail Outlet: Location: Contact Number: Q1) Do you offer packed spices or loosed? ( ) Packed ( ) Loosed

Q2) In which form customers buy the spices more? ( ) Straight ( ) Whole ( ) Blended ( ) All

Q3) Which brands of Spices does the shop sell? _____________________________________________________________________ Q4) What according to you is the favoured brand of your customer base. Please specify reasons of them being favoured. _______________________________________________________________________________________ ___________________________________________________ Q5) Amongst all brands which two brands are close competitors in terms of traded volume? ___________________________________________________________ Q6) A major chunk of your sale is_________wholesale sales to small traders _________ retail sale Q7) Which pack has more selling Below 250gms Between 250-500gms More than 500gms Q8) Please rank the three best performing product categories in your retail business last year: ____________________________________________

Q9) Which brand of Spices has the highest sales volume (i.e. how many in 1 day) __________________________________________________ Q10) What attracts customers while buying the spices?? ( ) Taste ( ) Quality ( ) Price ( ) Brand of the spices (

) Packaging

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Q11) Are there any customer complaints about the existing brands of Spices?

) Yes

) No

Q12) Has the demand for Spices risen in the past few years? ( ) Yes ( ) No

Q13) Which company gives you more margins on the product? ( ) Everest ( ) MDH ( ) Catch ( ) Other

Q14) On which product you get more offer and discounts from distributor? ( ) Everest ( ) MDH ( ) Catch ( ) Other

Q15) Which company has good distribution channel? ( ) Everest ( ) MDH ( ) Catch ( ) Other

Q16) Which product demand is more? ( ) Everest ( ) MDH ( ) Catch ( ) Other

Q17) Rates of spices are governed by Govt, how you manage to earn in such a competition. (Profit Margin) ( ) Below 10% ( ) Between 10-25% ( ) More than 25 %

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BIBLIOGRAPHY

Books:
Research Methodology- C.R. Kothari. Brand Positioning- Sen Gupta. Marketing Management- Philip Kotler.

Websites:
http://www.google.com http://www.wikipedia.org http://www.cargill.com http://www.indianspices.com http://www.mdhspices.com http://www.everestspices.com

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