Financial Daily from THE HINDU group of publications
Tuesday, Feb 19, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 19, 2002 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Sakthi Soyas hires out edible oil refining unit L.N. Revathy
COIMBATORE, Feb. 18 SAKTHI Soyas has signed a contract with a southern India crude edible oil importer to let out its 3,000-tonne-a-month oil refinery in order to tap its full potential. The company has not been utilising this refinery to its capacity as it concentrated only on processing food grade value-added soya products, Mr M. Ponnuswami, Vice-President (Administration), Sakthi Sugars, told Business Line. Earlier, the refinery was used for producing conventional animal feed (de-oiled cake) but this activity was slowly withdrawn as it became unviable. ``The soya refinery has not been utilised to its optimal capacity for the last few years,'' he said. ``Apart from refining our crude oil to the extent of 20 per cent, the rest of the 80 per cent capacity will be used for refining crude oil of the importer for a reasonable processing charge,'' he said. This would get the company some return on its investment in the plant and machinery, which would have otherwise remained idle. ``We hope to break-even this year. The signals are positive,'' he added. Meanwhile, the company has appointed Dindigul-based Anil brand vermicelli manufacturers as its super-stockist to improve the business volumes for its value-added products. The stockist has a strong marketing network in the South. ``Besides the Anil brand of products, they have agreed to market the texturised vegetable protein (TVP) products of Sakthi Soyas such as soya flour, soya bite etc through their distribution network,'' Mr Ponnusami said. This arrangement suited the company best as otherwise it would have to establish a domestic network of its own. He said the company was also exploring the export potential for its value-added products. Sakthi Soyas is wholly-owned by Sakthi Sugars. Earlier, it was floated as a joint venture with the Tamil Nadu Industries Development Corporation. The parent company_ Sakthi Sugars have since bought back the shares from Tidco.
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