Market Chatter: Kikkoman, Kagome Step Up India Expansion Plans
Japanese condiment makers Kikkoman (TYO:2801) and Kagome (TYO:2811) are expanding their focus on India as they seek growth opportunities in the country, Nikkei Asia reported.Kikkoman is considering building its first soy sauce factory in India in the 2030s, Chief Executive Shozaburo Nakano told Nikkei.Potential locations include Delhi, Chennai, and Bengaluru, according to the report.The company entered India's commercial seasoning market in 2020 and plans to introduce a dark soy sauce for household use as early as 2027, Nikkei reported.Separately, Kagome plans to increase procurement of locally grown tomatoes for processing and expand support for farmers producing varieties suited for sauces and other food products, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)