India coffee maker invests 20 mln USD to double capacity of Vietnam facility
CCL Products India coffee products. (Photo: CCL Products India)
Coffee company CCL Products India Ltd (Continental Coffee), based in Andhra Pradesh, is investing 20 million USD in doubling the capacity of its coffee manufacturing facility in Vietnam, Times of India reported.
The capacity of the Vietnam facility, which makes about 13,000 – 14,000 metric tonnes per annum (mtpa) spray dried coffee for global markets, are expected to double to 26,000 mtpa by the end of 2022, said CCL Products CEO Praveen Jaipuriar.
“The doubling of the Vietnam capacities will take our total capacities to 50,000 – 55,000 mtpa and help fuel our growth in the next 2 – 3 years,” he said.
Elaborating on the reasons for expanding in Vietnam, Jaipuriar pointed out that Vietnam not only offers a tariff advantage for exports but is also a strong coffee growing country, which means the proximity to the raw material also cuts down on freight costs.
Currently, CCL has a total capacity of 36,000 – 37,000 mtpa, a chunk of which is exported. This includes 25,000 mtpa in India across plants at Duggirala, Vijayawada.
Having clocked revenues of around 12.42 billion INR (167 million USD) in financial year 2020-2021, CCL is now eyeing revenues of around 16 billion INR in the current fiscal./.
Related News
Exporting phone and component to India grows 102%
18:00 | 01/09/2024 Import-Export
India imposes 10% customs duty on solar glass imports
08:16 | 26/07/2024 World Customs
Open up strong product exports to the Indian market
10:00 | 12/06/2023 Import-Export
Customs nabs Kozhikode woman with gold worth Rs 1 crore hidden in undergarment
16:22 | 15/03/2023 World Customs
Latest News
Nghệ An Province anticipates record FDI amidst economic upswing
15:49 | 26/12/2024 Import-Export
Green farming development needs supportive policies to attract investors
15:46 | 26/12/2024 Import-Export
Vietnamese enterprises adapt to green logistics trend
15:43 | 26/12/2024 Import-Export
Paving the way for Vietnamese agricultural products in China
11:08 | 26/12/2024 Import-Export
More News
VN seafood export surpass 2024 goal of $10 billion
14:59 | 25/12/2024 Import-Export
Exporters urged to actively prepare for trade defence investigation risks when exporting to the UK
14:57 | 25/12/2024 Import-Export
Electronic imports exceed $100 billion
14:55 | 25/12/2024 Import-Export
Forestry exports set a record of $17.3 billion
14:49 | 25/12/2024 Import-Export
Hanoi: Maximum support for affiliating production and sustainable consumption of agricultural products
09:43 | 25/12/2024 Import-Export
Việt Nam boosts supporting industries with development programmes
13:56 | 24/12/2024 Import-Export
VN's wood industry sees chances and challenges from US new trade policies
13:54 | 24/12/2024 Import-Export
Vietnam's fruit, vegetable exports reach new milestone, topping 7 billion USD
13:49 | 24/12/2024 Import-Export
Aquatic exports hit 10 billion USD
13:45 | 24/12/2024 Import-Export
Your care
Nghệ An Province anticipates record FDI amidst economic upswing
15:49 | 26/12/2024 Import-Export
Green farming development needs supportive policies to attract investors
15:46 | 26/12/2024 Import-Export
Vietnamese enterprises adapt to green logistics trend
15:43 | 26/12/2024 Import-Export
Paving the way for Vietnamese agricultural products in China
11:08 | 26/12/2024 Import-Export
VN seafood export surpass 2024 goal of $10 billion
14:59 | 25/12/2024 Import-Export