Canadian Agro India signs 3 MoUs in food retail space

Lawrence MacAulay, minister of agriculture and agri-food, Canada, recently led a business mission to India, in Mumbai, during which three MoUs have been signed in food retail segment.

An MoU with HyperCITY Retail India has been signed, which will enable Canadian Agro India to permanently stock HyperCITY’s stores across India with its brand, Canapure Canola Oil. Through this agreement Canadian Agro India will avail a pre-agreed upon preferential listing price which will enable them to compete effectively in terms of final pricing of its product across all HyperCITY stores in India. This agreement will also enable Canadian Agro India to hold instore promotions of products at key time periods throughout the year or at specific festive seasons.

Whereas, the MoU with Jmart, New Delhi headquartered online grocer and store retailer, will enable Canadian Agro India to list and place its product (Canapure Canola Oil) throughout all the stores of JMart located in the national capital region of New Delhi. The MoU will also enable Canadian Agro India to work with JMart to use Canapure’s Canola Oil for production of its ready-to-eat products under the ‘Grubb’ brand. The Grubb brand of ready to eat products is produced by JMart in its privately-run kitchens and are sold across all its stores in New Delhi and the NCR.

An MoU with KMP Enterprises, a Kenya-based retailer, was also signed, which will enable Canadian Agro India to maintain a constant supply and ship nine containers of Canapure Canola Oil. After the completion of this one year, based on the demand and response of Canapure’s Canola Oil, it will either increase the number of containers or maintain it at the nine container agreement for every year.