Food Financial News

Subscribe to enjoy similar stories.New Delhi: Luxury retailer Burgundy Brand Collective aims to cross ₹200 crore in revenuein FY27, as the Mumbai-based company bets on rising premium consumption beyond India’s top metros.The company, which has introduced brands such as Royce’ Chocolate, Onitsuka Tiger, Jacadi Paris and Ligne Roset to India, plans to invest about ₹100 crore to scale its multi-category portfolio, cofounder Samir Gadhok told Mint.Burgundy, which reported sales of ₹120 crore in FY24, also plans to nearly double its store count over the next three years to about 65 stores.The expansion comes as India’s luxury consumption story broadens to newer cities where affluent consumers are spending more across categories from fashion and food to home and lifestyle.Burgundy’s approach has been to build across categories rather than deepen a single vertical. "We want to be everything to one customer, rather than one thing to everyone,” said Gadhok.

Subscribe to enjoy similar stories.The government is set to roll out the third iteration of the Panchayat Advancement Index (PAI) in May, strengthening its push for evidence-based planning at the grassroots level, said Sushil Kumar Lohani, additional secretary in the ministry of panchayati raj.PAI, first launched for 2022-23, is a composite index to assess the performance and progress of gram panchayats across India by using socio-economic indicators, identifying development gaps and supporting evidence-based planning. The introduction of PAI 3.0 for 2025-26 is expected to transform rural areas by enhancing service delivery, infrastructure and livelihoods.With about 65% of India’s population living in the rural areas, PAI could significantly improve transparency and accountability, ultimately transforming living standards and accelerating inclusive growth across almost 665,000 villages.The updated index builds on earlier versions that have already been adopted by several states as a core planning tool.

Subscribe to enjoy similar stories.New Delhi: India's summer (zaid) crops, including maize, moong, and groundnut, have remained resilient despite scorching heat across several parts of the country. However, an extended heatwave could hurt both yields and crop quality, a senior agricultural scientist warned on Wednesday.Field reports suggest that these short-duration crops, grown between rabi and kharif seasons, are largely holding up, supported by timely irrigation, M.L.

Subscribe to enjoy similar stories.In 1604, James I of England anonymously published a small book titled A Counterblaste to Tobacco. He called smoking “a custom loathsome to the eye, hateful to the nose, harmful to the brain, dangerous to the lungs, and in the black stinking fume thereof, nearest resembling the horrible Stygian smoke of the pit that is bottomless.” Within a year, he had raised the import duty on tobacco by 4,000%. The duty did not work.

Subscribe to enjoy similar stories.Investors will be keenly watching how the US-Iran war-induced volatility in raw materials in March impacted Hindustan Unilever Ltd's (HUL) margins when the packaged consumer goods giant announces its fourth-quarter results on Thursday.HUL is expected to post a profit after tax of ₹2,612 crore and revenue of ₹16,270 crore in the three months ended 31 March, according to Bloomberg's 21-analyst estimate. In the third quarter, it reported a net profit before exceptional items of ₹2,562 crore and revenue of ₹16,235 crore.The company, often considered a proxy for consumption in India, has had a tough March quarter, with several key inputs used across its product portfolio directly exposed to disruptions triggered by the US-Iran war.For example, the price of palm oil, a key ingredient for HUL, which makes soaps under brands such as Lux, Lifebuoy, Dove, Pears, Rexona and Hamam, has been rising as the war has pushed major producers such as Malaysia and Indonesia to increase their biodiesel capacity.Similarly, prices of liquid paraffin, used in creams, have edged up slightly.

Subscribe to enjoy similar stories.The International Monetary Fund in its recent spring meeting abandoned its single global growth forecast. It now presents three scenarios: 3.1% growth with 4.4% inflation, 2.5% growth with 5.4% inflation, or 2% growth with inflation above 6%, depending on how long the Strait of Hormuz stays shut. The International Energy Agency has called the 2026 disruption the worst energy shock the world has ever seen.

Subscribe to enjoy similar stories.MUMBAI: AWL Agri Business Ltd expects a recovery in volume growth in FY27, led by a turnaround in its foods segment, management said on Tuesday.“As far as volume growth is concerned, edible oil should continue to grow at a mid-single digit,” said Shrikant Kanhere, managing director and chief executive of AWL Agri Business Ltd, in an interaction with Mint. “Food is something we want to turn around next year with double-digit volume growth.”AWL Agri Business, formerly known as Adani Wilmar, reported underlying volume growth of 4% in FY26, with 14% growth in the March quarter (Q4FY26).

Subscribe to enjoy similar stories.Bengaluru: In a Mumbai apartment, Abhishek Sarkate spends his days staring at a glowing screen. As a video editor working remotely, his world rarely extends beyond his desk. A while back, when he tried outsourcing his food, ordering in or eating out, his gut rebelled.

Subscribe to enjoy similar stories.Investors usually favour companies in which foreign institutional investors (FIIs) hold a stake, as FIIs are known to prefer businesses with robust corporate governance, strong liquidity, and scalable earnings growth.Rising FII ownership can indicate investor confidence and attract market participation. However, it should not be the sole consideration for equity investment.FIIs may adjust holdings due to global interest rates, currency movements, ETF flows, or broader risk events unrelated to company fundamentals.

Subscribe to enjoy similar stories.Sun Pharmaceutical Industries Ltd’s acquisition of Organon might yet avoid the pitfalls that its rivals, Lupin Ltd and Biocon Ltd, have faced in the past. Billed as among the largest deals in the Indian pharma space, the Sun-Organon deal is in a better place than the Lupin-Gavis and the Biocon-Viatris deals.When Lupin completed the acquisition of US-based Gavis Pharmaceuticals in March 2016, the former’s stock went downhill.

Subscribe to enjoy similar stories.A nationwide shortage of Diet Coke is creating an opportunity for India’s direct-to-consumer zero-sugar beverage brands to win new customers as supply disruptions leave multinational soda makers short on shelves this summer.With demand for low-calorie drinks rising during the peak summer months of April and May, newer beverage companies are using the disruption to attract consumers who may not find their usual diet cola, betting that temporary shortages could translate into repeat purchases, industry executives told Mint.For many of these startups, including Paper Boat Zero, Chinni Kum, Zyro, and Jimmy's, the disruption has been less severe because a large part of their portfolio is sold in PET bottles rather than aluminium cans.Ankur Bhatia, founder of Jimmy’s, said the company’s bottle-based packaging has given it a ‘tactical edge’ because shortages in aluminium cans have worsened as beer and soft drink makers compete for the same production capacity. “The can-making lines are the same.

Subscribe to enjoy similar stories.BENGALURU: India’s café chains are moving beyond traditional coffee-led formats and experimenting with dessert-focused concepts, hybrid cafés and experience-led stores to drive higher engagement and spending.Last week, Westbridge Capital-backed Third Wave Coffee launched “Third Rush” at four of its outlets in Bengaluru, branding and positioning desserts as a standalone experience aimed at enhancing late-evening socializing.“We see desserts evolving into a strategic lever that supports higher engagement and ticket size,” Rajat Luthra, chief executive officer (CEO) of Third Wave Coffee, told Mint.Barista Coffee recently started diner-style outlets that offer a more expansive set of meal items like burgers and pastas and hybrid cafés that serve coffee and food items, while Tata Starbucks already has desserts as part of its food menu and is expanding a mix of neighbourhood stores and more immersive Reserve formats.These formats are becoming more specialized. Dessert-led menus and artisanal bakery tie-ups are helping chains move beyond beverages into full-stack consumption.

Subscribe to enjoy similar stories.Asia’s Gen Z is facing a summer of discontent. Already grappling with bleak job prospects and lacklustre growth, it is now being stung by the shock from the Iran war, which is driving up prices of everything from fuel to food. The immediate impact is economic, but there is a growing risk of political instability.

Subscribe to enjoy similar stories.Mumbai: Promoters of Lucknow-based CP Milk and Food Products are in early talks to sell a 10–15% stake to private equity investors, a deal that could value the dairy company at ₹2,500–3,000 crore, two people familiar with the matter said.“The deal was launched a few days ago and several private equity funds have been tapped,” one of the people cited above said. The company will raise about ₹300-400 crore to expand its geographical and product footprint, the second person said on the condition of anonymity.The company has appointed O3 Capital as its advisor to help raise funds, the people added.If the fundraise goes as planned, it will mark the company’s first round of external capital.O3 Capital and CP Milk did not respond to Mint’s requests for comment till the time of publishing.CP Milk’s fundraising efforts come against the backdrop of several family-owned businesses seeking to tap private markets to catalyze their next phase of growth and ensure smoother succession planning in a professionally run setup.Mint has earlier reported on similar moves by companies such as Anmol Industries, Haldiram, Theobroma, VIP Industries, Balaji Wafers, Iscon Balaji, HyFun Foods and Ratnadeep Retail, that have raised funds or are in various stages of their fundraising process.Established in 2007 by C.P.

Subscribe to enjoy similar stories.NEW DELHI: An early and harsher-than-usual start to summer has prompted the Centre to ask states to step up heatwave preparedness, with temperatures already running 4-8 degrees Celsius above seasonal averages in several regions, according to two government officials and documents reviewed by Mint.The directive comes as parts of northwestern, central and eastern India report daytime highs crossing 44°C, raising the risk of heat-related illnesses and potential disruption to economic activity if extreme conditions persist.The India Meteorological Department (IMD) has warned that heatwave conditions are very likely in the next 24 hours in states including Bihar, Jharkhand, Uttar Pradesh, Rajasthan, Madhya Pradesh, Punjab and Haryana, as well as parts of central and peninsular India.India's official weather forecaster defines a heatwave as temperatures at least 4.5°C above normal, with higher departures classified as severe.Union health secretary Punya Salila Srivastava has asked states to stock essential supplies such as oral rehydration salts (ORS), intravenous fluids, ice packs and cooling equipment, and to operationalize dedicated Heat Stroke Management Units at health facilities. Ambulance services have also been asked to be equipped to handle heat-related emergencies, according to the communication sent to states.States have been directed to mandatorily report daily heatstroke cases and deaths through the Integrated Health Information Platform (IHIP) to enable real-time monitoring.

Subscribe to enjoy similar stories.NEW DELHI: India’s avocado demand is surging, but domestic supply is still playing catch-up, keeping the country reliant on imports even as local cultivation expands.Government data show imports have more than tripled in two years, rising to $42.27 million in FY26 (till February), from about $27 million in FY25 and $13.5 million in FY24. Domestic output, meanwhile, has increased more gradually—from about 6,000 tonnes in 2023 to around 9,000 tonnes in 2026, experts said.The mismatch highlights a widening gap: rising health-driven consumption is outpacing India’s nascent production base, forcing the market to lean on overseas suppliers even as farmers begin to scale up planting.The area under avocado cultivation has expanded over the years, with farmers in Karnataka, Kerala, Tamil Nadu, Sikkim and parts of Maharashtra responding to growing urban demand.

Subscribe to enjoy similar stories.New Delhi: India’s early and intense summer is already pushing electricity demand towards the highest levels seen during peak summer last year, challenging the country's power system for the weeks ahead.Peak demand has risen to nearly 240 GW this week amid rising use of cooling appliances, up from about 215 GW end March, according to the Grid Controller of India. With the weather bureau warning of sustained above-normal temperatures, demand is seen rising further, raising the likelihood of new records this season.The record high power demand so far is 250 GW seen on 30 May, 2024.

Subscribe to enjoy similar stories.The government’s decision to reopen wheat exports in February after nearly four years—and then scaling up the quota from 2.5 million tonnes to 5 million—comes as India sits on a comfortable surplus. The move aims to ease excess supply and support farm prices without hurting food security. But how do exports lift farmer incomes, and can this be done without stoking inflation? Mint explains.Because there is more wheat in the system than the country currently needs.

Subscribe to enjoy similar stories.Among several distressing data points in the recently published The State of Working India 2026, a detailed vivisection of India’s demographic bulge by scholars at Azim Premji University (APU), a few vividly stand out. While India now produces 5 million graduates every year, salaried employment is only a fraction of that at 1.7 million annually. “This has also contributed to a slowdown in graduate earnings,” the report notes.

Subscribe to enjoy similar stories.New Delhi: India’s foodgrain stocks have surged well above its buffer norms, strengthening the country’s cushion against supply shocks and global price swings. Government data shows central pool reserves were at 60.48 million tonnes (mt) as on 1 April—nearly three times the mandate—fanning a debate over how best to manage surplus stocks to benefit both farmers and consumers.The latest data marks a strong recovery from 33.2 mt stock in 2023 and 37.65 mt in 2024, when food grain inventories had tightened.

Subscribe to enjoy similar stories.Mumbai: Tea cafe chain Chaayos, backed by investors including Tiger Global and Elevation Capital, has appointed Avendus as an advisor to raise $50-70 million in a fresh funding round, two people familiar with the matter told Mint.“The company mandated Avendus a few months ago and the deal has been formally launched. While the exact structures are yet to be decided, several private equity and growth stage funds have been tapped as part of the process,” said one of the people cited above, adding that the company plans to use the funds for expansion.The round is expected to be a mix of primary and secondary.