The Russian manufacturer of sauces and vegetable oils “Efko” will abandon the business of producing dairy products. The company will focus its capacity on plant-based alternatives for export. This was reported by the Efko press service.
Efko specializes in the production of vegetable oils, additives and meat substitute products. In summer 2022, Efko shareholders’ ESG project Healthy Innovation made the first deliveries of plant-based meat alternatives to retail chains in the UAE.
And this summer Efko spoke about the completion of the certification of sweet proteins in the United Arab Emirates and about the intention to supply the component to the market of the Middle Eastern country. The company has learned to obtain proteins found only in rare tropical plants in laboratory conditions. One gram of sweet protein is equivalent in sweetness to 2 kg of normal sugar; Investments in the project amounted to one billion rubles.
Efko will now focus on the processing of oilseeds, proteins and vegetable fats. Investments in projects for the production of meat and milk substitutes will also continue.
According to the company’s CEO, Sergei Ivanov, the Russian yogurt market is mature and saturated. He explained that effective growth in such a market requires deep integration with dairy producers. And Efko left the dairy business two years ago and sold the Green Valley company.
Ivanov called the current decision, although painful, unanimous in the board of directors. Efko realizes that they are depriving consumers of their favorite product, but now other projects need resources.
“This includes international expansion with plant-based alternatives to milk and meat. This is the beginning of sweet protein sales in the Middle East. Development of technologies for deep processing of sunflower protein with maximum preservation of natural benefits. And our most ambitious and inspiring direction is cellular nutrition for healthy longevity,” Ivanov specified Efko’s future plans.
He added that the day before the company sent a notice to retailers that supplies of yogurt would cease from January 2024. In a message on Telegram, Ivanov hinted at some kind of contradiction between the company’s positioning as a manufacturer of plant-based alternatives , on the one hand, and the production of dairy products, on the other.
“We seem to be moving and swaying with plant-based alternatives, while continuing to get ‘creative’ with milk next,” the top manager wrote.
Efko produces drinking and spoonable yogurts under the Sloboda brand. In addition to them, this brand also produces sunflower oil and some sauces, such as ketchup and mayonnaise. As the press service explained to RB.RU, the company will continue to produce, as before, the entire range of the brand, as well as yogurts.
The group’s portfolio also includes the Liberty brand, which also produces yogurts.
Author:
Natalia Gormaleva
Source: RB
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