Summer Intership Report

at

MANE KANCOR INGREDIENTS PRIVATE LIMITED

Submitted to

MAHATMA GANDHI UNIVERSITY,KOTTAYAM

In partial fulfillment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

2021-2023

Submitted by

ROSHAN BABU
Reg.No-213240010052

BHARATA MATA INSTITUTE OF MANAGEMENT

BHARATA MATA COLLEGE
THRIKKAKARA -682021
 DECLRATION

I ROSHAN BABU, hereby declare that this Report is a bonafide record of Summer

Internship undergone by me at MANE KANCOR INGREDIENTS ORIVATE

LIMITED,during 26th Sept 2022 to18th Nov ,2022 in partial fulfillment of the requirements of the

Master of Business Administration (MBA) programme of Mahatma Gandhi University. It is

also declared that this report has not been submitted to any other Institute/University for the award

of any Degree/ Diploma.

Thrikkakkara

25-11-2022 ROSHAN BABU

 ACKNOWLEDGEMENT

“Gratitude is the memory of heart” goes the saying: expressing gratitude is always a pleasant
duty I am thankful to the almighty for all the blessings given to me.

I am grateful to thank Rev.Fr. (Dr.) Abraham Olippurath, Managing Director, Bharata Mata
Institute of Management for being our guiding light.

I express my deepest sense of gratitude to Mr.Sunil S.S, Assistant Professor, Bharata Mata
Institute of management for her guidance which was extremely valuable for my study both
theoretically and practically.

I extend my gratitude to Prof. Dr. B Hareendran for his encouragement and for guiding me
even his busy schedule for the completion of my study.

I deeply express my sincere gratitude to my company guide Mr. Jeffin John,marketing group
leader, Mane Kancor for his guidance, regular source of encouragement and assistance. I would
also like to give my heartfelt thanks to Mr Martin(HR),Mr Jeevan, who guided and encouraged
me all through the Summer internship period and important and in death knowledge experience of
corporate sector. I would like to thank all the department heads of Mane Kancor, for giving their
precious time and valuable guidance during my internship

I also extend my thankfulness to all other staff, my parents and friends for their continuous
encouragement at every moment, last but not the least I thank all gentleman who have rendered
their assistance in the successful completion of project.

Place :Thrikkakara

Date : 25-11-2023 ROSHAN BABU

 TABLE OF CONTENTS

Sl No Chapter No Contents Pg No

1 TITLE PAGE

2 CERTIFICATE

3 DECLARATION

4 ACKNOWLEDGEMENT

5 TABLE OF CONTENT

6 LIST OF TABLES

7 LIST OF FIGURES

8 CHAPTER I INTRODUCTION 1

9 1.1 Introduction 2

10 1.2 Objective of The Study 3

11 1.3 Scope of The Study 4

12 1.4 Study Plan 5

13 1.5 Data Source 5

14 1.6 Data Collection Method 6

15 1.7 Period of the Study 6

16 1.8 Limitation of the Study 7

17 2 INDUSTRY PROFILE 8

18 2.1 Introduction 9

19 2.2 History 9
20 2.3 Global Scenario 11

21 2.4 Indian Scenario 18

23 2.5 State Scenario 21

24 2.6 Driving Forces in the Industry 22

25 2.7 Prospects and Challenges 25

26 2.8 PESTAL Analysis 26

27 2.9 Industry Competitive Analysis 33

27 CHAPTER III COMPANY PROFILE 36

28 3.1 Introduction 37

39 3.2 Promoters and Ownership 38

30 3.3 History 40

31 3.4 Vision 41

32 3.5 Mission 41

33 3.6 Products and Services 42

34 3.8 Compititors 51

35 3.8 Future plans 53

36 3.10 CSR Activities 56

37 3.11 Awards won 57

38 3.12 SWOT Analysis 59

49 Chapter 4 STUDY OF DEPARTMENT 61

40 4.1 Commercial Department 61

41 4.2 Finance and Accounts Department 65

42 4.3 Marketing Department 68

43 4.4 Research and Development 71

Department

44 CHAPTER V CONCLUTION 73

45 5.1 Learning Experience 74

46 5.2 Learning Outcomes 75

47 5.3 Critical Appraisal 75

48 5.4 Suggestions 76

49 5.5 Conclution 76

BIBLIOGRAPHY
 LIST OF TABLES

Sl. No TABLE NO TITLE PAGENO

1 1.4 List of tables 5

2 2.1 Popular spice rank 12

3 2.2 Food ingredients in Different 13

countries
4 2.3 Market Size, segment, key players, 15
growth delivers
5 2.4 Global Natural Ingredients Market 17
 LIST OF FIGURES

Sl. No FIGURE TITLE PAGE

NO NO

1 2.1 Spices Market Size in US 14

2 2.2 Seasoning and spices Market value 18

In India

3 2.3 Estimated Production volume of spices 20

4 2.4 Gross Value Added From Condiments 22

and Spices across Kerala

5 2.5 Five Force Model 33

6 3.1 Food Colours 50

7 3.2 sustainablity certification 54

8 4.1 Struture of commerce dept 62

9 4.2 Structure of Fin and Accout dept 65

10 4.3 Structure of Fin and Accout dept 68

CHAPTER -1

INTRODUCTION

1
1.1 Introduction

An organization is a group of people that together have a social arrangement to

dispense tasks for a goal they all want to achieve. The original word 'organization' comes
from the Greek word Organon which itself is derived from the word Ergon which literally
translates to 'organ' which isa compartment for a particular job. There are a wide range of
different organizations within our social structure that allow our society to function and
fulfill their public duties; co-operatives, charities, nonprofit corporations, governments,
corporations, Universities, companies, non government organizations, international
organizations, armed forces and any other types that are similar that cover the public
sector and the private sector. There are also what is known as hybrid organizations which
are a combination of two of the above such as a combination of a corporate organization
and the government.
If we look at organizations from a social sciences perspective then we need to
understand that it is a subject for analysis using a number of disciplines which include;
sociology, political sciences, psychology, economics, management and organizational
communications. When people say they are studying organizations they may say that they
are studying; organizational studies, organizational structure, organizational analysis and
organizational behavior. All of these names mean the exact same thing but are the names
that aregiven by different institutes to their courses. When studying organization, you will
learn three different perspectives to look at it; Process related perspective, Functional
perspective and Institutional perspective. Process related perspective looks at how an
organization is viewed as anentity, that it is in effect being re-organized so that the focus
shifts on the organization to becomea set of precise actions or tasks. Functional perspective
is different as it focuses on how it is similarto a business and how they are being used.
Finally, an institutional perspective is where they look at an organization's structure and
whether it is useful within the correct social context.

2
 An organizational structure consists of activities such as task allocation,
coordination and supervision, which are directed towards the achievement of
organizational aims. It can also be considered as the viewing glass or perspective through
which individuals see their organization and its environment. Organizations are a variant
of clustered entities. An organization can be structured in many different ways, depending
on their objectives.

The structure of an organizationwill determine the modes in which it operates and

performs. Organizational structure allows the expressed allocation of responsibilities for
different functions and processes to different entities such as the branch, department,
workgroup and individual. Organizational structure affect organizational action in two
big ways. First, it provides the foundation on which standard operating procedures and
routines rest. Second, it determines which individuals get to participate in which decision-
making processes, and thus to what extent their views shape the organization’s actions.

1.2 Objectives of The Study

1. To gain practical experience of the jobs carried out in the MarketingDepartment of Mane
Kancor.
2. To compare the theoretical knowledge of markrting with the practical experiences.
3. Clarify personal interests, skills, and competencies, and their implementation toward
development of career goals.
4. To gain ideas from the experienced people working for Marketing department.
5. To understand the challenges faced by the Marketing department.
6. To understand the different types of training provided to the employees
7. Development of personal standards of professional and ethical behavior required in the
workplace.
8. An opportunity to build a professional network by meeting and working with people in
the field of Marketing. This can include professionals, managers, and other employees
within the organization.
9. To explore different Marketing roles and career paths.
3
1.3 Scope of the Study

The scope of an Marketing internship study can be broad and varied, depending on the
specific objectives of the internship and the organization's Marketing needs. By taking a
systematic approach to analyzing and improving processes, metrics, technology, compliance,
and strategy, an Marketing intern can make a meaningful contribution to the organization and
gain valuable experience in the field of Marketing.

Internship experience plays a vital role for every student to implement their theoretical
knowledge and get a practical knowledge from the organization.
1. Provides a clear job/project description for the work experience.
2. Orients the student to the organization, its culture and proposed work assignment.
3. Helps the student develop and achieve learning goals.
4. To be able to observe and participate in various Marketing processes and strategies, such as
digital marketing,social media marketing,direct marketing. The internship focus on analyzing
and documenting these processes and procedures, identifying areas for improvement, and
making recommendations for enhancing Marketing effectiveness.
5. It involves working with sales data and analytics, such as turnover rates,return on investment
and financial reports. student may be able to use data analysis tools to identify trends and
patterns, and make recommendations for improving sales metrics and analytics.
6. The student will be well- versed in marketing policies and procedures, ensuring that the
organization is in compliance with applicable laws and regulations. It may involve researching
and analyzing markrting legal issues, such as lack of agreement,intellectual property
rights,data privacy and conflicts.

4
1.4 Study Plan

Table No1.1 Study Plan

Months Activity

a) Gaining knowledge of the workplace.

First Month b) Attending the organization regularly.
c) Evaluate the effectiveness of the organisation.
September to October

a) Interaction with team members who have more

Second Month expertise in their particular field.
b) Analyzing marketing strategies of competitors
October to November
c) Examining the work and activities of the
employee

1.5 Data Sources

a. Primary Source
Data that was gathered first hand, directly from the source, is referred to as primary data.
This mostly consisted of conversations with the managers, workers, and other staff members.
Observations can provide valuable insights into how marketing initiatives and processes are
actually implemented in the workplace. Observation of marketing processes in a bussiness to
bussiness organization, such as importance of digital marketing and social media marketing.

5
b. Secondary Source
Secondary data is defined as information that has already been gathered by someone else for
a different reason. It includes:
1. Company Website
2. Annual Report
3. Internet
4. Company Records

1.6 Data Collection Methods

Methodology is the procedure or technique used to conduct the study with the goal of
gathering data needed to complete the study and arrive at a conclusion. Observing employees and
marketing processes in action to gather data on how they work in practice. Observations is
conducted in person. Secondary data sources include data that has already been collected by others,
such as reports, databases, and industry research. Intensive reading through these documentations
will give valuable in-sights. One-on-one conversations with employees, managers, or other
stakeholders are conducted to gather information. This report was created using the knowledge
gained during the internship, which took place between September 26,2022 and November 18,
2022.

The trainee collected information from executives through interacting with them raising
pertinent the questions to extract information from them and recorded it in a diary. Similarly the
data obtained from direct observation also were noted in the diary on a day to day basis.

1.7 Period of the Study

The period of internship is for 2 months. It was started in Mane Kancor from 26
September to 18 November 2022.

6
1.8 Limitations of the Study
The following are the limitations of the study:

a) This study is not free from limitations. I also come across some of the limitations during the
study like the management is reluctant to provide financial data.
b) not able to go deeper into the functioning aspects of the kancor ingredients limited.
c) Getting company’s willingness to implementthe proposed technique needs strategic decisions
and it’s a time consuming process.
d) Time limit is another limitation and it restricted the study in few areas.
e) Company wasnot ready to provide the data soon they did after a lot of thoughts and proper
convincing that willbe using for academic interests.

7
 CHAPTER 2

INDUSTRY PROFILE

8
2.1 Introduction
The spices and natural ingredients industry involves the production, processing, and
distribution of various natural ingredients used in a wide range of products, including food,
cosmetics, and pharmaceuticals. Spices, herbs, botanicals, and other natural ingredients are
valued for their flavor, aroma, color, and functional properties, as well as their potential health
benefits.
The industry has a long history dating back to ancient times when spices were traded as
valuable commodities between civilizations. Today, the industry has evolved to meet the
demands of a global marketplace, with companies involved in the sourcing, extraction,
formulation, and distribution of natural ingredients.
Some of the key players in the industry include farmers and growers, processors,
distributors, and manufacturers. Many of these businesses operate on a local or regional level,
while others have a global presence. The industry also includes regulatory bodies, trade
associations, and research and development organizations.
In recent years, there has been a growing demand for natural and organic ingredients, as
consumers become more conscious of the potential health and environmental impacts of synthetic
ingredients. This trend has led to increased investment in research and development, as well as
new product development, in the spices and natural ingredients industry.
Overall, the spices and natural ingredients industry plays a vital role in the production of
a wide range of consumer goods and continues to evolve to meet changing consumer preferences
and market demands.The global spices and seasonings market size was valued at USD 14.8
billion in 2020 and is expected to reach USD 21.5 billion by 2028, growing at a CAGR of 4.9%
from 2021 to 2028.

2.2 Origin and History of Growth of the Food ingredients Industry

Archaeologists estimate that from as far back as 50,000 B.C. humans had used the special
qualitiesof aromatic plants to help flavor their food. The primitive man would have utilized the
sweet- smelling spices in order to make their food taste better.

9
The spice trade developed throughout the Middle East in around 2000 BC with cinnamon and
pepper. The Egyptians used herbs for embalming and their need for exotic herbs helped stimulate
world trade. In fact, the word spice comes from the same root as species, meaning kinds of goods.
By 1000 BC China and India had a medical system based upon herbs.Early uses were connected
with magic, medicine, religion, tradition, and preservation.

Indonesian merchants went around China, India, the Middle East and the east coast
of Africa. Arabmerchants facilitated the routes through the Middle East and India. This
made the city ofAlexandria in Egypt the main trading centre for spices because of its port.
The most important discovery prior to the European spice trade were the monsoon winds
(40 AD).

Spices were among the most luxurious products available in Europe in the Middle
Ages, the most common being black pepper, cinnamon (and the cheaper alternative cassia),
cumin, nutmeg, ginger and cloves. They were all imported from plantations in Asia and
Africa, which made them extremely expensive. From the 8th until the 15th century, the
Republic of Venice hadthe monopoly on spice trade with the Middle East, and along with
it the neighboring Italian city-states. The trade made the region phenomenally rich. It has
been estimated that around 1,000 tons of pepper and 1,000 tons of the other common spices
were imported into Western Europe each year during the Late Middle Ages. The value of
these goods was the equivalent of a yearly sup The story of Indian spices is more than 7000
years old. Centuries before Greece and Rome had been discovered, sailing ships were
carrying Indian spices, perfumes and textiles to Mesopotamia, Arabia and Egypt. It was the
lure of these that brought many seafarers to the shores of India.
Long before Christian era, the Greek merchants thronged the markets of South India,
buying many expensive items amongst which spices were one. Epicurean Rome was
spending a fortune on Indian spices, silks, brocades, Dhaka muslin and cloth of gold, etc.
Da Gama’s successful voyage intensified an international power struggle for control
over the spicetrade. For three centuries afterwards the nations of Western Europe-
Portugal, Spain, France ,Holland, and Great Britain – fought bloody sea-wars over the
spice-producing colonies. Trade in India in the present day involves less nationalistic
qualities than it did in the past.

10
 The most lucrative of the spice traders during this time were the Arabians. South
Arabia was the great spice emporium in antiquity The Arabians used mythological stories to
succeed in acquiringthe first monopoly on the spice trade. The period between the 16th to
the 18th century saw the English explore and control the spice trade. After this period, the
Americans also entered into the spice trading community. Thus, one can see that the history
of spice has always been a history of control, of power and of wealth. Spice has proved to be
the number one commodity of trade that has made a lot of difference in the lives of many
people.

2.3 World Scenario

The global Spices and Seasonings market is projected to grow from USD 18.47 billion in
2022 to USD 25.42 billion by 2029, exhibiting a CAGR of 4.67% during the forecast period. The
global COVID-19 pandemic has been unprecedented and staggering, with Spices and Seasonings
experiencing lower- than-anticipated demand across all regions compared to pre-pandemic levels.
Based on our analysis, the global market exhibited a lower growth of 3.14% in 2020 compared to
2019. CAGR increase is attributable to this market's high demand and growth, returning to pre-
pandemic levels once the pandemic is over.

Spices and Seasonings are the ingredients used to give food and beverage products aroma,
flavor, preservation, and color. These products are derived from various plant parts, including
flowers, barks, fruits, buds, seeds, leaves, roots, and plant tops. Spices are used in various foods
and beverages, including healthy raw materials such as turmeric and pepper. The global demand
for such healthy spices indicates the market's upward trajectory market is primarily driven by a
few factors, such as the rising popularity of ethnic cuisines. It is driving the demand for spice
blends and new spices. Spices are often used by the vegan masses as meat substitutes. They often
mimic the taste of meat. It is creating several opportunities for the spices and seasonings market
growth. Also, the increasing demand for turmeric, which is sold as Curcuma in developed regions
such as Europe, would aid the growthof this market.

11
 Table No 2.1 popular spices rank

Rank Country Popular spices

1 India Turmeric, Cumin, Coriander, Cardamom, Cloves,
Black pepper

2 Bangladesh Saffron, Cumin, Coriander, Turmeric, Cardamom,

Paprika
3 Pakisthan Cumin, Coriander, Turmeric, Chili pepper, Ginger,
Black pepper
4 Sri Lanka Cinnamon, Cardamom, Cloves, Nutmeg, Pepper,
Turmeric
5 Indonasia Cumin, Coriander, Fennel, Sesame, Anise, Caraway
6 Iran Cumin, Coriander, Turmeric, Ginger, Garlic, Chili
pepper

7 Morocco Cumin, Coriander, Cinnamon, Ginger, Paprika,

Saffron
8 Egypt Black pepper, Cinnamon, Chili pepper, Nutmeg,
Garlic, Paprika

9 US Cinnamon, Nutmeg, Black pepper, Paprika, Cloves,

Ginger

The pandemic outbreak has resulted in the market's slowdown due to various economic,
political, and social changes. The crisis significantly impacted the world's spices sector, with its
value chain stretching from the main production hubs in developing countries to the global spice
trade network. Following the implementation of lockdown measures by national governments to
halt the spread of the virus, there have been labor shortages caused by workforce migration. The
border closure of China and India caused the fall in the price of some spices. For example, the
price of cardamom in India fell by 50%, and the price of pepper in Vietnam fell by about 10% in
2020.

12
 Table No 2.2Food Ingredients in Different Countries
Ingredient Cuisine Descriptio
Cocunut milk South asia A creamy liquid made from
the grated flesh of mature
coconuts, commonly used as
a base for curries, soups, and
desserts in Southeast Asian
cuisine.
Tomatos South america A gluten-free grain that was a
staple of the ancient Incan
diet, now commonly used in
salads, soups, and as a
substitute for rice or pasta in
various dishes.
Quinoa Mediterranean A juicy fruit that is a staple in
Mediterranean cuisine,
commonly used in salads,
sauces, and as a topping for
pizzas and pastas. Rich in
lycopene, a powerful
antioxidant.
Avacado Mexican A creamy fruit with a buttery
texture, commonly used in
guacamole and as a topping
for tacos and burritos in
Mexican cuisine. High in
healthy monounsaturated fats.
Ginger Asia A root with a spicy, pungent
flavor, commonly used in
Asian cuisine to add depth to
soups, stir-fries, and
marinades. Believed to have
anti-inflammatory properties.

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 Fig No 2.1 Spices Market Size in US

The leading market players witnessed a slight decline in their Spices and Seasonings
segment's revenue, generated during 2020. For instance, McCormick & Company Inc. is one of
the largestspice companies in the world; the company's flavor solutions segment saw a 3.5%
decrease in sales in 2020 compared to 2019. The demand from the restaurant and branded
foodservice customers was lower due to the COVID-19 disruption, which drove the decline in
sales. As the spice industry prepares to overcome the post-coronavirus problem, opportunities such
as sustainable spices and food safety measures are expected to open up for the spice industry to get
back Customers generally look for more natural and healthier products, including Spices and
Seasonings.
They are now more conscious and curious about products' origins and production process.
Consumers in developed countries are embracing sustainable sourcing to protect the security of
supply chains, the quality of products, and, most importantly, the livelihoods of the people who
grow the spices. As the sustainability certification of spices is becoming more mainstream, the
market shares of sustainably produced spices and herbs are increasing in different regions.
According to FLOCERT, in Europe, there were around 146 Fairtrade-certifiedcompanies in the
sector of herbs and spices in 2021. Furthermore, consumers are opting for healthful indulgence to
provide taste and beneficial traits such as superior nutritional profiles organic and non-GMO retail
positioning. This trend is expected to significantly boost spice and seasoning sales in both
developed and developing markets to a normal pace..

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 The spice and natural ingredients market is a diverse and growing industry that is driven by
several factors, including changing consumer preferences, increasing health consciousness,
and the growing popularity of ethnic cuisine. Here are some of the key trends and drivers
shaping the current world scenario of the spice and natural ingredients market:

Table No 2.2 Market Size, segment, key players, growth delivers

CATEGORY DESCRIPTION
MARKET SIZE The global flavor and fragrance market was valued at $28.2
billion in 2020 and is expected to reach $37.4 billion by 2026,
growing at a CAGR of 4.9% during the forecast period (2021-
2026).
MARKET SEGMENT The flavor and fragrance market is segmented based on product
type, application, and region.. The market is also segmented by
region, with North America, Europe, Asia-Pacific, and Rest of
the World being the major regions.
KEY PLAYERS The flavor and fragrance industry is highly competitive and
dominated by a few major players. Some of the key players in
the industry include Givaudan, Firmenich, International Flavors
& Fragrances (IFF), Symrise, Mane, Takasago, Sensient
Technologies, Robertet, Huabao International Holdings, and
Kerry Group.
GROWTH DElIVERS The flavor and fragrance industry is driven by the growing
demand for natural ingredients, increasing consumer awareness
of health and wellness, and the rising demand for convenience
foods. Other factors contributing to the growth of the industry
include the growing demand for personal care products,
changing consumer lifestyles, and the increasing popularity of
fine fragrances.

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 Growing Demand for Natural Ingredients: With increasing awareness of the health
benefits of natural ingredients, there has been a significant shift in consumer preferences
towards natural and organic products. This has led to a surge in demand for natural spices and
ingredients that are free from synthetic additives and preservatives.

Rise of Ethnic Cuisine: The growing popularity of international cuisine, particularly from
regions such as Asia and Latin America, has created a demand for a wider range of spices and
ingredients. This has led to an increased demand for exotic and ethnic spices and ingredients.

Globalization of Food Trade: The globalization of food trade has led to an increased
availability of spices and ingredients from around the world. This has created a more diverse
and competitive market, with increased competition among suppliers and manufacturers.
Shift to Online Retail: The rise of e-commerce has transformed the spice and natural
ingredients market, making it easier for consumers to access a wider range of products from
around the world. This has also created new opportunities for small and niche players to enter
the market and reach a global audience.
Growing Use in the Food Industry: The food industry is one of the largest consumers
of spices and natural ingredients, with a growing demand for these products in processed foods,
ready-to-eat meals, and snacks. This has led to increased demand for high-quality and
innovative ingredients that can enhance the flavor and nutritional value of food products.
Overall, the spice and natural ingredients market is expected to continue to grow in the
coming years, driven by changing consumer preferences, globalization, and innovation in the
food industry.

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 Table No 2. Global Natural Ingredients Market

Category Descriptions

Market size The global natural ingredients market was valued at $33.9 billion in
2020 and is expected to reach $55.3 billion by 2027, growing at a
CAGR of 7.1% from 2021 to 2027.
Market segments The natural ingredients market is segmented by type, application,
and region. Types of natural ingredients include plant extracts,
essential oils, enzymes, proteins, and flavors & fragrances.
Applications include food & beverages, pharmaceuticals, cosmetics
& personal care, and animal feed. Major regions include North
America, Europe, Asia-Pacific, and Rest of the World.
Growth drivers The natural ingredients industry is highly competitive, with several
global and regional players. Some of the key players include
Cargill, Inc., Archer Daniels Midland Company, Chr. Hansen
Holding A/S, Kerry Group PLC, Givaudan, Symrise AG, Firmenich
SA, Sensient Technologies Corporation, and Tate & Lyle PLC.
Challenges The natural ingredients industry is driven by the increasing
consumer demand for clean label and natural products, rising
awareness of the health benefits of natural ingredients, and growing
popularity of organic and non-GMO products. Other factors
contributing to the growth of the industry include advancements in
extraction technologies and increasing applications in various end-
use industries.

2.4 Indian scenario

The India spices market size reached INR 142,569.3 Crores in 2021.expects the market to
reach INR 270,928.4 Crores by 2027, exhibiting a growth rate (CAGR) of 11.15% during 2022-
2027. The increasing demand for innovative flavors, authentic cuisines, and ethnic tastes in foods
and snacks is augmenting the market for spices in India. Additionally, a significant growth in the
food processing industry along with hectic work schedules and sedentary lifestyles of the consumers
are also propelling the demand for convenient food options.

As a result, the growing utilization of spices in processed and ready-to-eat food products is
further driving the market growth in the country. Apart from this, the expanding Hotel ,Restaurant
,Café sector in India is also bolstering the market growth. Moreover, the increasing penetration of
western food trends is further catalyzing the demand for a variety of newer spices. Additionally, the

17
Indian government has introduced stringent regulations to curb the adulteration of spices, thereby
inducing the production of safer product variants.

Figno 2.2 Seasoning and spices Market value In India

The expanding food processing industry, coupled with the increasing demand for
innovative flavors,authentic cuisines, and ethnic tastes in food items and snacks, is primarily
driving theIndia spices market. The sudden outbreak of the COVID-19 pandemic has led to
the shifting consumer inclination across India, from conventional brick-and-mortar
distribution channelstowards online retail platforms for the purchase of spices. On a regional
level, the market hasbeen classified into South India, North India, West and Central India,
and East India, where South India currently dominates the market.
India is one of the largest producers and exporters of spices and natural ingredients
in the world, and the industry plays a crucial role in the country's economy. Here are some
key trends and drivers shaping the current Indian scenario of the spice and natural ingredients
market:
a. Rising Export Demand: India is the largest exporter of spices in the world, with
a share of around 48% of the global market. The demand for Indian spices and
natural ingredients is increasing in the global market due to their high quality and
unique flavor profiles.
b. Growing Domestic Consumption: The Indian market for spices and natural
ingredients is also growing rapidly, driven by increasing consumer awareness of
the health benefits of these products and their use in traditional Indian cuisine.

18
 There is also a trend towards premiumization, with consumers willing to pay
more for high-quality and organic products.
c. Technological Advancements: The Indian spice industry is adopting new
technologies and techniques for the processing and packaging of spices, which is
helping to improve the quality and shelf life of these products. This is also helping
to increase the export potential of Indian spices.

d. Government Support: The Indian government has implemented various policies

and initiatives to support the spice and natural ingredients industry, including
subsidies for farmers and exporters, and the establishment of spice parks and
testing laboratories. This has helped to boost production and export volumes, and
improve the quality and safety of Indian spices.

e. Climate Change: Climate change is posing a significant challenge to the Indian

spice industry, with unpredictable weather patterns affecting crop yields and
quality. This is leading to a shift towards the cultivation of more resilient varieties
of spices, and the adoption of sustainable farming practices.

f. Major Spices: The major spices produced in India include pepper, cardamom,
chilli, ginger, turmeric, cumin, coriander, fennel, fenugreek, and nutmeg.

g. Organic Production: India is the largest producer of organic spices in the world,
with an estimated 2.5 lakh hectares of land under organic cultivation for spices.
h. Industry Structure: The Indian spice and natural ingredients industry is highly
fragmented, with a large number of small and medium-sized players. However,
there are also some large players such as Everest Spices, MDH Spices, and Catch
Spices.
i. Key Challenges: Some of the key challenges faced by the Indian spice and natural
ingredients industry include climate change, high dependence on a few crops, lack
of infrastructure, and quality control issues.
j. Regulatory Framework: The Indian spice industry is regulated by the Spices
Board of India, which is responsible for the promotion and development of the

19
 industry, and the regulation of quality and safety standards.
k. Innovation: The Indian spice industry is undergoing a transformation with the
introduction of new products and flavors, and the use of innovative packaging
and branding strategies to attract younger consumers.
These data points highlight the significant growth potential of the Indian spice and natural
ingredients market, as well as the challenges faced by the industry.

Fig No. 2.3 Estimated Production volume of spices

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 2.5 State scenario

The story of Kerala’s spices dates back to many thousands of years into the past. Kerala
is famous in the world due to total monopoly over spices. In the last decade the international trade
in spices has grown to an estimated 500,000 ton of spices and herbs valued at more than 1500
million US dollars. It is a matter of pride for the tiny state of Kerala that the bulk of this trade is
still from Kerala. “Idukki” is known in many names as “God’s own district”, “land of spices”,
the second largest district of Kerala where 90 percent of land is covered by forests and
plantations. This land is the primary producer of Pepper and centre of production and marketing
cardamom, ginger, cocoa, Tea and coffee.

The export of spices from Kerala through Cochin and Thiruvananthapuram ports rose to
95,455.86 MT valued ₹4,152.96 crore in 2017-18 as against 84,418.84 MT valued ₹4,271.20 crore
recording an increase of 13.07 per cent in volume and a decline of 2.77 per cent in value due to
decrease in prices of spices.The share of Kerala in Indian export of spices and spices products
recorded a slightly fluctuating trend in the last several years. It was 9.96 per cent in 2013-14, slightly
declined to 9.12 per cent in 2014-15, went up to 11.87 in 2015-16, declined to 8.91 per cent in 2016-
17 and rose to 9.29 per cent in 2017-18 in terms of quantity.Kerala’s export of spices and spice
products recorded a growth of 0.18 per cent in 2014-15, rose to 22.71 per cent in 2015-16, went
down to a negative growth rate of 15.65 per cent in 2016- 17, and went up to 13.07 per cent in 2017-
18.

21
 Fig No2.4 Gross Value Added From Condiments and Spices across Kerala

Kerala is a land of spices considering the large variety of spice grown in the state. Kerala had
trade relations with Persia, ancient Europe, ancient Singapore and other Eastern countries. Kerala
attracted foreigners only because of its abundant resources of spices. Pepper or ‘Black Gold’ as
it is otherwise known is the sole reason why the Europeans were particular in building the Suez
Canal so that they could reach the coast of Kerala with very less amount of time.
Kerala plays a major role in the production and export of spices from India. Human substance
pattern in Kerala were shaped primarily by its physical, climatic and ecological characteristics.
The greatest natural endowment of this humid -tropic region was the existence of a high degree of
biodiversity.

2.5 Driving Forces in the Industry

Vegetarianism and veganism are part of a global trend that is rapidly expanding. The vegan
population has grown significantly. Many spices previously used in the meat processing industry
are now utilized in vegetarian alternatives. This trend contributes to the growth in spice demand.
Plant-based diets are becoming increasingly popular around the world.

22
The companies are focusing on new product launches, specifically for the vegan and vegetarian
population, to take advantage of this new trend. For instance, in January 2022, Watson's Seasoning
Blends, a Los Angeles-based female and minority-operated brand, released a new line of vegan
gourmet spice blends that make it easy to make delectable plant-based meals. With the rise of
plant-based alternatives and only a slight decrease in meat consumption, spice and herb producers
have an opportunity to create more creative flavor seasoning combinations. Additionally, the rising
use of spices by vegan masses as meat substitutes has positively aided the global spices and
seasonings market growth.
Digitalization is becoming more important in the procurement of spices and herbs. Sensors,
digital tools, and online activities are among the new trends to make the entire supply chain more
transparent and sustainable. Many farmers worldwide utilize digital technologies such as
smartphones, sensors, drones, and satellites. These technologies offer a variety of solutions for
spice and herb producers, including remote measurement of soil conditions, improved
watermanagement, pest and disease emergence forecasts, and crop monitoring. In April 2021, the
Netherlands Space Office funded the SpiceUp project on digital agriculture. The project
combines advanced satellite technology, information technology, and the internet to assist black
pepper producers in Indonesia. It also developed the SpiceUp smartphone application to support
different actors in the black and white pepper chain. Thus, the increasing digitalization projects
for the production of spices & herbs in various emerging economies are expected to boost the
global market size in the upcoming years.management, pest and disease emergence forecasts, and
crop monitoring. In April 2021, the Netherlands Space Office funded the SpiceUp project on
digital agriculture.
The project combines advanced satellite technology, information technology, and the internet to
assist blackpepper producers in Indonesia.
It also developed the SpiceUp smartphone application to support different actors in the black and
white pepper chain. Thus, the increasing digitalization projects for the production of spices &
herbs in various emerging economies are expected to boost the global market size in the upcoming
years.
Ready-to-use spice mixes are becoming increasingly popular among consumers as they save
timeand effort and provide consistency in taste every time a particular dish is prepared. The hectic
lifestyles of consumers, growing demand for convenience in food preparation, and increasing
disposable incomes have led to an increase in the demand for ready-to-use spice mixes.
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a) Other driving forces are,Health and Wellness Trends: Consumers are becoming increasingly
health-conscious, and are looking for natural and healthy ingredients to incorporate into their diets.
This has created a growing demand for spices and natural ingredients that are perceived as being
healthy and beneficial for overall well-being.

b) Increasing Popularity of Ethnic Foods: The popularity of ethnic cuisine is on the rise, and this
has created a growing demand for authentic and high-quality spices and natural ingredients from
around the world.

c) Innovation and Product Development: The spice and natural ingredients industry is
constantly evolving, with new product innovations and flavor profiles being introduced to cater to
changing consumer preferences.

d) E-Commerce and Online Retail: The rise of e-commerce and online retail has made it easier for
consumers to access a wider range of spices and natural ingredients from around the world, driving
demand and creating new opportunities for suppliers and manufacturers.

e) Globalization and Trade: The globalization of trade has opened up new markets for spices and
natural ingredients, and has created new opportunities for suppliers and manufacturers to reach a
global audience.

f) Government Support: Governments around the world are supporting the spice and natural
ingredients industry through initiatives such as subsidies, research and development programs,
and infrastructure development.

g) Sustainability: The focus on sustainability and environmental responsibility is driving demand

for natural and organic spices and ingredients, and is also leading to the adoption of more
sustainable farming practices.

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Overall, these driving forces are contributing to the growth and evolution of the spice and natural
ingredients industry, and are likely to continue to shape the industry in the coming years.

2.7 Prospects and challenges

Spice adulteration is mostly attributed to rising demand for exotic herbs and spices and a
supply constraint. Spices have become more vulnerable to adulteration, whether planned or
unintentional, since the international spice trade has grown tremendously. Deliberate adulteration
is usually motivated by a desire to maximize profit margins. For instance, in December 2020,
Police in India's northern state of Uttar Pradesh raided a factory that made fake spices out of
donkey dung, acid, and other spurious ingredients. Spices and herbs can be swapped with other
plants or artificial colors, and unlisted flavoring can be added. It's also possible that the
geographical origins have been altered. For example, Asian chilies are sold under Mexican
names such as chipotle or jalapeño. Mexican national symbols, such as the mariachi hat, are
frequently featured on the packaging. Food fraud is a serious problem in the spice and herb
industry, which is expected to hamper the market growth in the for the coming years. Low
profitability in the Spice area is one of the significant issues confronted the Indian Spice
industrythat results in to low intensity in the global business sectors.
Poor item quality at ranch level is another issue upsetting sensible value acknowledgment by
theproduce. Further, lacking infra-structure offices for cleaning, logical techniques for handling,
stockpiling and pressingare some other reasons for poor qualit

Rejection of fare ranchers of flavors such as cardamom, nippy and ginger is heavily dependent on
synthetic compounds and composts for bug and infectious prevention. Aimless use of synthetics
leads to decent restrictions on pesticide deposits, causing the dismissal of multiple flavor transfers
from India.
Exchange restrictions on sullied food or feed have the greatest effect on nations such as India,
which currently have few or no available methods of observing aflatoxin levels. The poisons are
especially cancer-causing in people and eating debased food regularly brings about liver
malignant growth, among different infections. Aflatoxin additionallyact an immuno-suppressant
so that influenced people become defenseless to a wide scope of sickness

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2.8 PESTAL Analysis

2.7.1 Political Factors

1. Wide Regulation
Governments across the world have expansive regulatory frameworks for every aspect of the
spice industry. This includes the cleanliness of factories, the standards for storing and transporting
produce, and even the requirements for laborers in the spice industry Without a doubt, this makes
the spice industry one of the most tightly-regulated industries of all. On theplus side, this ensures
that consumers aren’t exposed to poor quality nutrition, but the complexities of regulation certainly
take away from the margins of the spice industry.

2. Trade Policies
Trade policies such as tariffs, import and export restrictions, and trade agreements can have a
major impact on the spice market. For example, changes in trade policies can affect the price and
availability of spices, and can influence the demand for certain types of spices in different countries.

3. Government Regulations
Government regulations and policies related to food safety, labeling, and quality standards can
also impact the spice market. For instance, regulations related to pesticide residues, heavy metal
content, and microbial contamination can affect the export of spices from a particular country.

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4. Political Stability
Political stability is crucial for the spice industry, as instability and conflict in producing
regions can disrupt supply chains and lead to price fluctuations. Political unrest, civil war, and
terrorism can all impact the spice market by disrupting transportation, trade, and production.

5. International Relations
The relationship between countries can also impact the spice market. For instance, tensions
between two countries can lead to trade restrictions or import/export bans, which can affect the price
and availability of spices.

6. Agricultural Policies
Government policies related to agriculture, such as subsidies, land use policies, and price
controls, can also impact the spice market. Changes in these policies can affect the production,
supply, and price of spices.

2.7.2 Economic Factors

1. Increasing Labor Costs

Disposable incomes are growing for a reason: laborers are earning more money these days. On
the whole, the cost of hiring workers is increasing across all industries. This is caused by not only
a growing demand for employees, but also higher and higher government expectations for minimum
wages. As in many other industries, the effect of increasing labor costs is simple: less margin for the
owner of the business, and thus less profit.
Supply and Demand: The demand for spices and natural ingredients is influenced by factors such
as population growth, income levels, consumer preferences, and changing food habits. Changes in
demand can affect the price and availability of spices.

27
2. Economic Growth
The level of economic growth and development in a country can impact the demand for spices
and the ability of producers to supply them. Economic growth can lead to increased consumer
spending and a growing demand for spices, while a slowdown in the economy can lead to lower
demand and lower prices.

3. Exchange Rates
Changes in exchange rates can have a major impact on the spice industry, as many spices are
traded internationally. Fluctuations in exchange rates can affect the price of spices and the
profitability of exports.

4. Investment and Capital Flows

Investment and capital flows can impact the spice industry by influencing production levels,
supply chain infrastructure, and marketing strategies. Foreign investment and technology transfers
can also lead to increased production and productivity in the spice industry.

5. Cost of Production
The cost of production is a crucial factor that can impact the profitability of the spice industry.
Factors such as labor costs, transportation costs, energy costs, and the cost of raw materials can all
impact the cost of production.

6. Competition
The spice industry is highly competitive, with many producers and suppliers competing for
market share. Changes in market dynamics and the entry of new players can impact the
competitiveness of the industry and influence prices.
Sociocultural

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2.7.3 Social Factors

1. Cultural Preferences
Cultural preferences and culinary traditions can influence the demand for certain spices in
different regions. For example, Indian cuisine uses a lot of spices such as turmeric, cumin,
and coriander, which are not as commonly used in other cuisines
2. Health and Wellness Trends
Health and wellness trends are on the rise, and this has created a growing demand for
natural and healthy spices and ingredients. Consumers are increasingly looking for spices that
offer health benefits such as anti-inflammatory, anti-bacterial, and anti-cancer properties.

3. Changing Food Habits

Changing food habits can also impact the spice market. As consumers become more
adventurous and seek out new flavors, the demand for exotic and unique spices is increasing.

4. Demographics
Demographics can also influence the demand for spices. For instance, the aging population
is driving demand for spices that are believed to have health benefits, while younger
consumers are more likely to experiment with new and exotic flavors

5 Social Media
Social media platforms such as Instagram and Pinterest have created a growing interest
in food and cooking, leading to a greater awareness of different spices and ingredients.
This has contributed to the rise of the "foodie" culture, where consumers are interested in
exploring different flavors and cuisines.

6 Sustainability and Ethical Considerations

Consumers are increasingly concerned about sustainability and ethical considerations in
the production and sourcing of spices. This has led to a growing demand for organic, fair
trade, and sustainably sourced spices.

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2.7.4 Technological Factors

1. Advances in Production Technology

Advances in production technology have made it easier and more efficient to produce, process, and
package spices. This has led to increased productivity, improved quality control, and reduced costs.

2. Automation
Automation technologies such as robotics and artificial intelligence are being increasingly used
in the spice industry. This has improved efficiency, reduced labor costs, and helped ensure
consistency in the quality of spices.

3. Traceability
Technological advancements have also enabled better traceability of spices throughout the
supply chain. This helps ensure food safety and quality control, as well as compliance with
regulations and certification requirements.

4. Packaging and Preservation

Advances in packaging and preservation technology have extended the shelf life of spices,
making it possible to store and transport them over longer distances without compromising their
quality.

5. Food Safety
Technological advances have improved food safety in the spice industry, through the use of tools
such as DNA sequencing and chemical analysis. This has helped reduce the risk of contamination
and ensure that spices meet regulatory standards.

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6. Marketing and Sales
Technology has also impacted the way spices are marketed and sold, with the rise of e-
commerce platforms and social media marketing. This has made it easier for producers to reach
consumers in different regions and markets, and to target specific segments of the market with
customized messaging.

2.7.5 Environmental Factors

Environmental factors can have a significant impact on the spice industry, as they affect the
production, quality, and availability of spices. Here are some key environmental factors that can
affect the spice industry:

1. Climate Change
Climate change is a major environmental factor that can impact the production of spices.
Changes in temperature and precipitation patterns can affect crop yields, as well as the quality and
flavor of spices.

2. Water Availability
Water availability is critical for the production of spices, and changes in water availability due
to climate change or other factors can affect crop yields and quality.

3. Soil Health
Soil health is critical for the growth and quality of spice crops. Changes in soil quality due to
erosion, nutrient depletion, or other factors can impact crop yields and quality.

4. Biodiversity Loss
Biodiversity loss can affect the availability of wild spices, as well as the resilience of cultivated
spice crops to pests and diseases.

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5. Land Use Change:
Land use change, such as the conversion of land for other uses like agriculture, urbanization, or
mining, can affect the availability of land for spice cultivation and impact the quality and
availability of spices.

6. Sustainable Agriculture Practices

Sustainable agriculture practices, such as organic farming, can help mitigate some of the
environmental impacts of spice production and promote the long-term sustainability of the
industry.

Overall, environmental factors are becoming increasingly important for the spice industry, as
they affect the production, quality, and availability of spices. It is important for stakeholders in the
industry to be aware of these environmental factors and adopt sustainable practices to promote the
long-term sustainability of the industry.

2.7.6 Legal Factors

1. Food Safety Regulations

Food safety regulations are critical for ensuring that spices and natural food ingredients are
safe for human consumption. These regulations vary by country and can include requirements for
labeling, packaging, and testing for contaminants such as pesticides, heavy metals, and pathogens.

2. Intellectual Property Rights

Intellectual property rights such as patents, trademarks, and copyrights are important for
protecting the innovations and creations of spice and natural food ingredient producers. This can
include new spice blends, extraction processes, and other proprietary methods.
3. Trade Agreements
Trade agreements between countries can affect the import and export of spices and natural
food ingredients. These agreements can include tariffs, quotas, and other trade barriers that can
impact the competitiveness and profitability of the industry.

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4. Labor Laws
Labor laws can affect the production and processing of spices and natural food ingredients,
particularly in countries where labor is a significant input in the production process. Labor laws
can include requirements for minimum wages, working conditions, and safety standards.

5 Environmental Regulations
Environmental regulations can affect the production and processing of spices and natural
food ingredients, particularly in relation to issues such as water use, waste disposal, and land use.

6 Organic Certification
Organic certification is important for producers of natural food ingredients, particularly those
that are marketed as organic or non-GMO. Organic certification can require compliance with
specific production and processing standards, as well as regular inspections and testing.

2.7 Industry Competitive Analysis (five forces model)

Fig No2.6.Five Force Model

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 1. Threat of New Entrants:
The threat of new entrants in the spice and food ingredients industry can vary depending
on the specific market segment and the competitive landscape. Established companies may
benefit from economies of scale, brand recognition, and well-developed distribution networks,
while new entrants may have an advantage in terms of innovation. However, both established
companies and new entrants may face barriers to entry such as regulatory requirements and
access to raw materials.

2. Bargaining Power of Suppliers:

The bargaining power of suppliers in the spice and food ingredients industry can vary
depending on the specific market segment and the competitive landscape. Buyers may be able
to negotiate favorable terms with suppliers if there are readily available alternatives, low
switching costs, and a large number of suppliers.
However, suppliers may have more bargaining power if they offer unique or rare
ingredients, operate in consolidated markets, or have strong downstream operations.
3. Bargaining Power of Buyers:
The bargaining power of buyers in the spice and food ingredients industry can vary
depending on several factors. Here are some factors that can impact the bargaining power of
buyers.The size and concentration of buyers can impact their bargaining power. Large buyers
who purchase in bulk may have more bargaining power than smaller buyers who purchase
smaller quantities.Buyers' ability to switch to alternative suppliers can impact their bargaining
power. If there are many alternative suppliers of a particular spice or ingredient, buyers may
have more bargaining power.Buyers who are highly price sensitive may have more bargaining
power, as they are more likely to seek out alternative suppliers if prices increase.

34
4.Threat of Substitutes:
The threat of substitutes in the spice and natural food ingredients market can vary
depending on several factors. Here are some factors that can impact the threat of substitutes:
The availability of alternatives can impact the threat of substitutes. If there are many
alternatives available, such as different spices or herbs, the threat of substitutes may be
higher.The price of substitutes can impact the threat of substitutes. If substitutes are cheaper
than the spice or natural food ingredient, the threat of substitutes may be higher.The quality
and flavor of substitutes can impact the threat of substitutes. If the substitute does not provide
the same quality or flavor as the spice or natural food ingredient, the threat of substitutes may
be lower.

3 Rivalry Among Existing Competitors

Rivalry among existing competitors in the spice market can be intense due to a
combination of factors such as market growth, number of competitors, product
differentiation, brand strength, cost structure, switching costs, and strategic objectives.
To remain competitive, companies may need to focus on improving their products,
differentiating themselves from competitors, and reducing costs.Synthite,plant
lipids,akay flavours,kalsec are the main competitors of mane kancor.

35
 CHAPTER 3

COMPANY PROFILE

36
 3.1 Introducrion

Mane Kancor is a leading manufacturer and supplier of natural ingredients, flavors, and fragrances.
The company is a part of the Mane Group, a global leader in the flavor and fragrance industry.
Mane Kancor specializes in the production of natural food ingredients, with a focus on spices and
herbs. The company offers a wide range of products including oleoresins, essential oils, natural
colors, and flavors, which are used in the food and beverage, cosmetic, and pharmaceutical
industries.

The company has a strong commitment to sustainability and ethical business practices. It
works closely with farmers and suppliers to ensure the quality and traceability of its products, and
has implemented several initiatives to reduce its environmental impact.

With its state-of-the-art manufacturing facilities and extensive research and development
capabilities, Mane Kancor has established itself as a leading player in the natural ingredients
industry. Its products are widely recognized for their high quality, purity, and naturalness, and the
company has a strong reputation for innovation and customer service
Mane Kancor was established in 1969 as Kancor Ingredients Ltd, a small-scale processor of spices
and oleoresins. In 2007, the company was acquired by the Mane Group, a France-based company
that specializes in flavor and fragrance products. Following the acquisition, Kancor Ingredients
Ltd was rebranded as Mane Kancor.
Today, Mane Kancor has manufacturing facilities in India, the United States, and Spain, and
employs over 1,500 people globally. The company has a strong presence in the Indian market and
exports its products to more than 60 countries around the world. Mane Kancor's product portfolio
includes a wide range of natural ingredients derived from spices and herbs, such as black pepper,
cardamom, ginger, turmeric, and cinnamon. These ingredients are used in a variety of applications
including seasoning blends, marinades, sauces, soups, snacks, bakery products, and beverages.
The company's natural colors and flavors are used in the food and beverage industry, while its
essential oils and fragrances are used in the cosmetic and pharmaceutical industries.

37
 In addition to its manufacturing capabilities, Mane Kancor has a strong research and
development program, focused on developing innovative natural ingredient solutions for its
customers. The company's R&D center in India is equipped with state-of-the-art analytical and
sensory labs, and its team of scientists works closely with customers to understand their needs and
develop customized solutions.

Mane Kancor is committed to sustainability and ethical business practices, and has
implemented several initiatives to reduce its environmental impact and support local communities.
The company works closely with farmers and suppliers to ensure the traceability and sustainability
of its raw materials, and has implemented several programs to support local communities, such as
education and healthcare initiatives.

3.2 Promoters/Ownership Pattern & Legal Frame Work of the Organization

Mane,is the parent company of Mane Kancor.Mane takes majority stake in Kancor. MANE
is a leading company that specializes in the creation and production of flavors, fragrances, and
ingredients for the food, beverage, and cosmetic industries. The company was founded in 1871
and is headquartered in Le Bar-sur-Loup, France. It operates in more than 60 countries and has
over 40 production facilities worldwide
MANE's food ingredients division offers a range of natural and synthetic flavors, seasoning
blends, and functional ingredients for various applications such as savory, sweet, and beverage
products. The company uses a variety of techniques to develop and manufacture its products,
including extraction, distillation, fermentation, and biotechnology.
Some of MANE's key food ingredient products include natural flavors, synthetic flavors, flavor
enhancers, seasoning blends, and natural colors. The company's products are used in a variety of
food and beverage applications such as bakery, confectionery, dairy, meat, poultry, snacks, and
beverages.
MANE has a strong focus on sustainability and works to minimize its environmental impact
through responsible sourcing, waste reduction, and energy efficiency initiatives. The company
also invests in research and development to create innovative and sustainable solutions for its
customers.

38
 In summary, MANE is a global company that produces a wide range of flavors, fragrances, and
food ingredients for the food, beverage, and cosmetic industries. The company has a strong focus
on sustainability and innovation and operates in over 60 countries around the world.

Jean M. Mane, is President and CEO of the company V. MANE FILS, founded in 1871
by his great-grandfather and established in Le Bar-sur- Loup near Grasse (French Riviera), a
position he has held since 1995, following 17 years of apprenticeship in the family owned
company.
He received his Licence de Chimie and his civil engineer degree from the School of Mines in
Paris in 1975 and his M.S. in Synthetic Organic Chemistry from MIT in 1976. He joined the
family owned company the following year working as a Research Chemist, then heading the
Flavour Division.
Jean Mane has been a European Flavour Expert since 1984, dedicating time and energy for the
defence of the interests of the Flavour and Fragrance Industry ever since. He holds various
positions within the Boards of IOFI, EFFA and SNIAA, respectively the International, European
and French Flavour Associations.

Geemon Korah, the Executive Director and CEO at Mane Kancor Ingredients Private
Limited, is a graduate in Agriculture with a post-graduation in Business Management. He has
also completed Executive Education from Harvard Business School, ISB Hyderabad and IIM
Calcutta. Before joining Mane Kancor in 1994, Geemon spent a brief time working on a European
Union project.
He has played a key role in moulding Kancor to what it is today. Since 1994 he has
incubated and developed several new businesses within Kancor, manoeuvring through numerous
challenges. After his take over as the CEO in 2006, he has spearheaded the company through a
10-fold growth. He was instrumental in establishing the joint venture between Kancor and Mane,
the fifth largest Flavour & Fragrance company in the world. Known for his team building ability,
paranoid optimism, inclusive growth, and foresight, Geemon has ardently propelledchanges in
the industry

39
 3.3 History and Growth

Kanji Morarji moved from Kutch to Bombay and established a business; trading spices and
othergoods from Kerala back in 1862. Morarji recruited his nephew, Vallabhdas Vasanji to join
the business in the early 20th century. They began exporting pepper and ginger to Europe. The
family’s expertise in the pepper trade earned them the name “Mariwala”.

In 1947, Mariwala and his four sons founded Bombay Oil Industries Limited. The company
established four manufacturing units between 1947 and 1971. One of them was a plant to extract
spices near Kerala that spun off into a firm called Kancor Flavours and Extracts Ltd, in which the
US-based McCormick & Company held a 40% stake in 1990, which by 1996, the Mariwala Group
re-acquired.
Kancor Flavours and Extracts Ltd. was renamed Kancor Ingredients Ltd. in 2006. They
became part of a French based company, Mane in December 2014. The year 2019 marked the 50th
Anniversary of Kancor. In 2021, Kancor Ingredients Ltd. was renamed Mane Kancor Ingredients
Private Limited.

Growth of Mane Kancor

1857-Kanji Morarji begins trade in spices.

1970-BOI’s oleoresin plant in Angamaly.

1990-Joint venture with McCormick, USA.

1996-Mariwala Group re-acquires McCormick’s share in Kancor.

2004-Manufacturing facility in Bareilly for mint products.

2005-Kancor floats Omni Active Health Technologies.

2007-Manufacturing facility at Byadgi.

2008-Formation of Speciality Products. Division with a focus on innovation.

2010-Manufacturing facility for PlatOR, Kancor China formed in Suzhou.

2012-Ranked in India’s growing mid-sized companies, awarded IPC Innovation Award for
PlatOR

40
2014-Joint venture with V Mane Fils, France. Manufacturing facility in Ahmednagar.

2017-Brand integration with Mane. Manufacturing facility in Harihar.

2021-Company name changed to Mane Kancor ingredients Private Limited

3.4VISION

Our vision is to be the global partner of choice for our customers, to enhance their product
appeal and increase our stakeholder value.

3.5MISSION

Our mission is to enrich lives globally by providing unique natural ingredient solutions.

The Mane culture is built on six values

Ethical

Initiative

People

Relationship

Innovation

Excellence

41
 3.6 Products and services

1) Oleoresins
Spice oleoresins
Oleoresins are the concentrated liquid form of raw materials. They are obtained by
solvent extraction followed by removal of the solvent. It contains the volatile as well as non-
volatileconstituents. Mane Kancor reproduces the character of the respective raw materials
fully.Oleoresins can replace whole/ground spices without impairing any flavour and aroma
characteristics. Mane Kancor’s spice Oleoresins are versatile products that can be used in
their existing form or blended with natural spices to act as a base for a variety of seasonings,
flavoursand perfume.

2) Black Pepper Decolourised

Black Pepper Oleoresin Decolourised is obtained by the solvent extraction of ground-
dried berries of Piper nigrum L. During extraction, black pepper undergoes a decolourisation
process. The final product is a viscous liquid that ranges from yellowish brown to greenish brown
in colour. Black Pepper Oleoresin Decolourised has the characteristic aroma of black pepper,
withan underlying pungency. The flavour is slightly warm and pleasant initially, followed by a
pungent, biting sensation.

3)Capsicum Oleoresin

Capsicum is a genus of flowering plants in the nightshade family, Solanaceae. It has become
a key spice in many cuisines. Capsicum Oleoresin is obtained by the solvent extraction of dried
ripe fruits of Capsicum annum L or Capsicum fruitescens L.The product has a pungent aroma,
characteristic of freshly ground, dried, red capsicum. There is a sharp pungent sensation when the
flavour is evaluated in dilution. It is a viscous, reddish-brown homogeneous liquid. Mane Kancor
is a leading manufacturer of capsicum oleoresin. Our Capsicum extract is compliant withglobal
food safety standards and is exported to more than 75 countries worldwide.

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4)Capsicum Oleoresin Decolourised

Capsicum is a genus of flowering plants in the nightshade family, Solanaceae. It has

become akey spice in many cuisines. Capsicum De-colourised Oleoresin is obtained by the
solvent extraction of dried ripe fruits of Capsicum annum L or Capsicum fruitescens L. During
extraction, capsicum undergoes a decolourisation process. The product has a pungent aroma,
characteristic of freshly ground, dried, red capsicum. There is a sharp, pungent sensation when
flavour is evaluated in dilution. It is a free-flowing, homogeneous liquid that is yellowish to
brownish-red in colour.

5) Clove Oleoresin

Cloves are the aromatic flower buds of a tree in the family of Myrtaceae that are commonly
used as a spice. Clove Oleoresins are obtained by solvent extraction of dried flower buds of
Eugenia caryophyllata.The product has an intense smell of clove bud with a pungent taste. It is a
free- flowing, homogeneous dark brown liquid.

6)Coriander Oleoresin

Coriander, also known as cilantro or Chinese parsley, is an annual herb that belongs to the
familyof Apiaceae. All parts of the plant are edible, but the fresh leaves and dried seeds are the
parts traditionally used for cooking. Coriander Oleoresins are obtained by the solvent extraction
of dried, ripe fruits of the herb Coriandrum sativum. The product has a combination of sweet,
aromatic flavours, with musty and citrus-like notes. It is a free-flowing, homogeneous dark to
golden-brown liquid.

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7) Cumin Oleoresin

Cumin is a flowering plant that hails from the family of Apiaceae. Its seeds (each one
contained within a fruit that’s dried) are used in a variety of cuisines. Cumin Oleoresin is obtained
by the solvent extraction of crushed, dried, ripe cumin seeds (Cuminum cyminum). The product
has the characteristic aroma of cumin, with a bitter undernote. It is a free-flowing, golden/greenish-
brown liquid. Mane Kancor is a leading manufacturer of cumin oleoresin. Our Cumin extract is c
Curcumin 95%.

8)Garlic Oleoresin

Garlic belongs to the family of Amaryllidaceae.It is used as a seasoning in Asia, Africa and
Europe. Garlic Oleoresins are obtained by the solvent extraction of crushed bulbs and cloves of
garlic, Allium sativum L. The product has the characteristic aroma of fresh garlic, is extremely
pungent and highly concentrated. It is a viscous liquid that is light orange to amber in colour.

9) Ginger Oleoresin

Ginger is a flowering plant whose rhizome, ginger root or simply ginger, is widely used
as a spice or a folk medicine. Ginger belongs to the family of Zingiberaceae. Ginger Oleoresin
is obtained by the solvent extraction of ground-dried rhizomes of Zingiber officinale Roscoe.The
product has the characteristic refreshing aroma of ginger. When evaluated in dilution, it has a
pungent,biting sensation. It is a free-flowing, homogeneous, dark brown liquid. Mane Kancor is
a leading manufacturer of ginger oleoresin . Our Ginger extract is compliant with global food
safety standards and exported to more than 75 countries worldwide.

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10) Mustard Oleoresin

Mustard belongs to the family of Brassicaceae. Mustard seeds are used while cooking,
especially in condiments. Mustard Oleoresin is obtained by steam distillation/extraction of
crushed seeds of Brassica SP. The product has a pungent odour and is lachrymatory. It is a pale
yellow liquid.

11) Nutmeg Oleoresin

Nutmeg is the seed of the tree belonging to the family of Myristicaceae. Nutmeg Oleoresin
is naturally obtained by the solvent extraction of ripened seeds of Myristica fragrans Houtton.The
product has the characteristic aroma of nutmeg, with a pleasant, warm taste. It is a semi-solid, waxy
resin with colours ranging from off white to light orange

12) Turmeric Oleoresin

Turmeric is a rhizomatous, herbaceous, perennial plant that hails from the family of
Zingiberaceae. Commonly used as a spice in many regional cuisines, it is also used to impart
colour during the process of dyeing. Turmeric Oleoresin is obtained by the solvent extraction of
ground-dried rhizomes of Curcuma longa L.The aroma of the product is characteristic of turmeric,
with distinct earthy, musky notes and a slightly bitter aftertaste. It is a viscous, homogeneous
paste. The product ranges from orange-yellow to reddish-brown in colour. Mane Kancor is a
leading manufacturer of turmeric essential oil . Turmeric oil is compliant with global food safety
standards and exported to more than 75 countries worldwide.

13.) GREEN EXTRACTS

Green extracts are specialty extracts that are made from fresh green spices. The oleoresin
extracted from fresh and green spice retains the fresh aroma and wholesome flavour of the spice.
The green extracts find application in flavour formulation where the fresh note of the spice is the
prime quality determinant. Mane Kancor’s Green Extract provide consistency in taste and aroma,
keeping it true to its origin. Our expertise in sourcing and extraction is reflected in the quality of
extracts.

Mane Kancor is a leading manufacturer of green extracts . Our Green extracts are compliant with
global food safety standards and exported to more than 75 countries worldwide.

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13)Green Ginger Oil

Botanical Name of Raw Material: Zingiber Officinale Roscoe.Mane Kancor’s Green/Fresh

Ginger Oil is pure, natural essential oil, obtained by the steam distillation of the fresh rhizomes of Zingiber
Officianale Roscoe. It is a free-flowing transparent liquid, with Pale yellow colour & has a characteristic
Aroma of Fresh ginger. This oil is highly preferred in multiple flavouring applications including beverages.
It is also considered for personal care and tropical applications.

14 ) Green Pepper Oleoresin

Green Pepper belongs to the family of Piperaceae. Often referred to as the ‘King of spices’,
it has been an incredibly popular spice since ancient times. It is usually used as a spice and in
seasonings. Green Pepper Extract is obtained by solvent extraction of green pepper corn of Piper
Nigrum. The resultant product has the characteristic aroma of green pepper corn, with an
underlying pungency. The flavour is slightly warm and pleasant initially, followed by a pungent,
biting sensation. It is a viscous liquid that is dark green in colour.

15)ESSENTIAL OILS

Mane Kancor’s Essential Oils exhibits the characteristic aroma of the raw materials used.
NaturalEssential Oils are aromatic, volatile liquids that are steam/hydro distilled from plant parts
like seeds, flowers, fruits, stems, bark, roots, leaves and more. They are highly concentrated,
requiring large volumes of plant material to produce just a small drop of oil.

Mane Kancor’s Essential Oils are mostly farm distilled. The company uses both traditional and
state-of-the-art technology to separate and purify the product before it is used in a variety of
applications.

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16) Basil Oil

Basil is a culinary herb from the family of Lamiaceae (mints). Basil essential oil is obtained
from the overground parts of Oscimum basilicum by steam distillation. It is pale yellow to
brownish yellow in colour and has a naturally sweet, herbaceous and balsamic odour with a tinge
of camphor. It is the main source for methyl chavicol. The major components of Basil oil are
methyl chavicol, linalool and other terpenes. The product is majorly used in flavouring ingredients
for confectionery, baked food, condimentary, sausages etc. The oil is also used to impart flavour
to certain dental and oral products.

17)Black Pepper Oil

Black pepper belongs to the family of Piperaceae. Often referred to as the ‘King of spices’,
it has been an incredibly popular spice since ancient times. The essential oil of black pepper is
obtained by the steam distillation of dried berries/peppercorns of Piper nigrum. The oil is a
colourless to pale/greenish yellow colour with warm, peppery, slightly-sweet and spicy notes. The
oil is mainly composed of Pinenes, D-limonene, Caryophyllene etc. The product is mainly used in
flavouring applications. Mane Kancor is a leading manufacturer of black pepper essential oil.
Our Black pepper oil is compliant with global food safety standards and exported to more than75
countries worldwide.

18. Carrot Seed Oil

Carrot is an annual or biennial herb that hails from the family of Apiaceae or Umbelliferae.
Carrot seed oil is derived from the steam distillation of crushed, dried seeds of Daucus carota L.
Carrot seed oil is yellow to reddish brown in colour with a warm, woody, earthy odour. The main
component of the product is carotol. the product is mainly used in seasoning, cosmetics and
fragrances

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 19.Cassia Oil

Cassia is considered as the main spice in culinary applications. Cassia belongs to the
family of Fabaceae. Cassia essential oil is obtained by the steam distillation of the bark of
Cinnamomum cassia. Unlike the cinnamon bark, the bark of cinnamon cassia is thicker and
darker; with flavours that are more pungent and less sweet. Cassia Oil is a dark brown, free-
flowing liquid, with a strong, spicy, warm resinous odour. Cassia oil majorly contains cinnamic
aldehyde, Eugenol and other terpenoids. The product is majorly used in beverages,
pharmaceuticals and oral care. Mane Kancor is a leading manufacturer of cassia essential oil. Our
Cassia oil is compliant with global food safety standards and exported to more than 75 countries
worldwide.

20) Celery Oil

Celery, a marshland plant variety, hails from the family of Apiaceae. Celery oil is obtained
by steam distillation of crushed seed of Apium graveolens. The product is pale yellow to
brownishyellow in colour, with a spicy-warm, sweet, long-lasting odour. Limonene and Sclinene
are major components of Celery oil. The product is extensively used as a flavouring agent in
food, alcoholic and soft drinks, fragrance and medicinal applications.

21) Anethol
Anethole is an organic compound that is widely used as a flavouring substance. It is a
derivative of phenylpropene, a type of aromatic compound that occurs widely in nature. It is
obtained by fractionation followed by isomerization of Basil oil. The product is a free-flowing,
colourless liquid, with a sweet, anise licorice, medicinal odour. It is used for flavouring and in oral
care formulations

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22) Citral

Citral is also known as geranial (citral a) or neral (citral b). It is present in the oils of
several plants like Litsea cubeba (70 – 85%), lemongrass (65 – 85%), lemon tea-tree (70 – 80%)
and the like. Citral is mainly isolated from lemongrass oil (Cymbopogon .flexuosus ) by
fractional distillation. It is a free-flowing liquid that is pale yellow in colour, with a citrus, juicy,
green lime, woody, herbal odour. The product is mainly used in fragrance applications.

23)Geraniol

Geraniol is acyclic monoterpene-alcohol. Pure geraniol is a colourless oily liquid, with a

sweet, rose-like scent. It is obtained by the fractional distillation of palmarosa oil. Geraniol is
used in consumer products like cleaning and furnishing care products, laundry and dishwashing
productsand personal care products.

24)Linalool

Linalool is a naturally occurring terpene alcohol chemical found in many flowers and spice
plants. It has a number of commercial applications. The product is obtained by the steam
fractional distillation of basil oil. It is a colourless liquid, with a characteristic herbaceous odour.
Linalool is used in flavour and fragrance formulations.

25)Methyl Chavicol (Estragole)

Estragole is a phenylpropene; a natural organic compound. Its chemical structure consists

of a benzene ring substituted with a methoxy group and a propenyl group. This is a natural
compoundthat is present in basil oil and is isolated by the process of fractional distillation. It has
a sweet, phenolic, anise, spicy, green herbal odour.The product is used mainly in fragrance
application

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27) C-CAPTURE

The natural food colour range from Mane Kancor – C-Capture, colours the world’s leading
food and beverage brands, keeping them appetising, vibrant and natural. The colour of food and
beverages is a prelude to nutrition and good taste. A product that is not attractive to look at might
never get tasted, making colour critical to product perception.Mane Kancor, a manufacturer of
natural pigments for over a century, is committed to providingsafe and natural colour for food and
beverage industries.

Fig No 3.1 Food Colours

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 28) Natural antioxidant

OxiKan, a range of natural antioxidants extracted from the finest Rosemary offers a
way toextend shelf life the natural way, without resorting to artificial or chemical means.

Antioxidants are substances that prolong the shelf life of food by delaying the oxidation process.
Synthetic antioxidants were widely used to arrest undesirable deterioration of food products, but
recent research studies indicate that these cause detrimental effects and are viewed as a threat to
human health.

3.7 Competitors

a) Synthite

Synthite Industries Ltd (Synthite) is the largest oleoresin extraction firm in the world, supplying
ingredients to the major food, fragrance and flavour houses. Synthite contributes 50 per cent of
India's exports in the spice oleoresin market. They have a portfolio of over 500 products - from
fresh & dried spices to oleoresins, added value products and application oriented solutions.

Synthite's range includes raw spices, spice oleoresins, essential oils, natural food colours, floral
concretes/absolutes, resinoids, seasonings, health/functional food ingredients, spray dried and
added value products as well as application oriented solutions.

b) Plant Lipids

Plant Lipids is one of the largest producers of spice oils and extracts in the world. Since the
commencement of operations in 1979, our passion and philosophy has helped us to provide an
unrivalled range of products and services that are innovative yet affordable. For over 40years,
Plant Lipids manufactures and exports a wide range of products which includes Oleoresins,
Essential Oils, Food colours, Specialty Extracts, Health & Wellness, and Functional ingredients,
Seasoning Blends, Ground spices as well as Fragrance ingredients to over 85 countries worldwide
in a sustainable and traceable way.
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 c) Akay Flavours

Ak ay is a leading global supplier of paprika and spice oleoresins from India.Akay has a long-
standing heritage in the production and supply of paprika and spice oleoresins to the global market,
providing both flavour and functionality into a wide range of spice and colour products.

d) Avt Naturals

AVT Natural is a leading manufacturer of plant-based extracts and natural ingredients

solutions for the food, beverage, animal nutrition and nutraceutical industries of the world. We
aim to tackle our customer’s biggest challenges by proving practical, sustainable and natural
solutions that help make people’s lives safer and healthier. AVT Natural is part of the A.V. Thomas
Group, a diversified, family owned group of companies with interests in Plantations, Spices,
Natural Ingredients, Consumer products, Leather goods, Medical Devices and Financial Services.
Our passion for new initiatives, commitment to quality and emphasis on sustainable businesses
practices, has enabled us to create world class businesses and emerge as leaders in our chosen
business areas.

e) Kalsec

Kalsec is the leading global producer of natural spice and herb flavor extracts, colors,
antioxidants, and advanced hop products for the food and beverage industry. For more than 50
years, Kalsec®has consistently delivered high-quality, innovative ingredient solutions that make
products look better, taste better and last longer. Kalsec is headquartered in Kalamazoo, MI, USA.

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 3.7 Future plans

Mane kancor’s future plan is to focus on value added spice products. Spice Board of India
has set a target of achieving an export target of US$5 billion by 2025 and US$10 billion by
2030. For achieving this target, the need of the hour is to develop infrastructure for value
addition and maintain focus on quality and safety requirement of destination markets.

The European market for value-added spices and herbs directly sourced in developing
countries, such as crushed or mixed, is growing, but competition with European processors
remains fierce. Especially for consumer-packaged spices and herbs, competition from European
companies is very strong. As an exporter already supplying whole spices and herbs, the first step
in adding value to your product would be to try and sell crushed or ground spices and herbs.

3.8 Social and environment contributions of the company

3.8.1 Farm Sustainable Assessment(FSA)Certification

Farm Sustainable Assessment is an initiative by Sustainable Agriculture Initiative (SAI)
Platform. This platform includes all food chain stakeholders willing to play an active role in the
development and implementation of sustainable agricultural practices.

Farm Sustainability Assessment (FSA) Programme, introduced in 2014 was built on the
achievements of the SPA (Sustainability Performance Assessment framework). It enables a
farm’s sustainability level to be assessed and offers practical recommendations for
improvement.Farm Sustainability Assessment (FSA) is a set of tools for food and drink
businesses that want to assess, improve and validate on-farm sustainability in their supply chains.

The tools enable effective and efficient supply chain collaboration right down to the level of the
farmer. Many of the world’s leading food and drink companies have begun to use it to source
sustainably produced agricultural raw materials.

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The Farm Sustainability Assessment (FSA) is an assessment questionnaire with 112 questionsabout
farming practices categorized under 17 topics. The questions cover key pillars of sustainability,
environmental, social and economics.

Role of Mane Kancor in Sustainability Certification

Mane Kancor trains farmers in sustainable cultivation aspects right from land preparation to post
harvesting by helping them in the following manner

Fig No3.2 sustainablity certification

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Mane Kancor invests in a third-party independent auditor to verify the above activities and
certify the farms under the principles of FSA.

The farmers, by working with Mane Kancor get their sustainable practices verified &
certified, get a collective access to the world market through us and will benefit with fair prices.
Training /exposure to good agricultural practices, in turn helping in regeneration of their farm
soils for long term sustenance.

3.8.2 Integrated Pest Management (IPM)

Intensive agricultural practices relying heavily on chemical pesticides are a major cause of
widespread ecological imbalances resulting in serious problems of insecticide resistance, pest
resurgence and pesticide residues.

In order to address the adverse impacts of chemical pesticides on Agro-ecosystems, Mane

Kancor’s Integrated Pest Management programme has shifted from Economic Threshold Level
(ETL) based approach to Agro-ecosystem analysis (AESA) based Integrated Pest Management
(IPM).

In AESA based IPM Mane Kancor agronomists study the entire agro-ecosystem, plant health
at different stages, built-in-compensation abilities of the plant, pest and defender population
dynamics, soil conditions, climatic factors and also consider farmers’ past experience in deciding
on application of chemical pesticides. Thus conserving the Agro-ecosystems. Ecological
Engineering for Pest Management, a new paradigm, is gaining acceptance as a strategy for
promoting Biointensive Integrated Pest Management, which relies on cultural practices to affect
habitat manipulation and enhance biological control. Mane Kancor’s strategies focus on pest
management both below ground and above ground.

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 3.9 Corporate Social Responsiblity

Mane Kancor believes that every action taken by the organization and employees is built on
foundation of its ‘WE’ values. The company believes that it needs to play a significant role in
community development and takes part in initiatives that benefit the larger public.

We will contribute to the overall development of the society in the areas, where we operate. Our
work should positively improve the quality of life of people in those locations.

a) Focus Areas

1. Supporting clean sourcing, with minimal carbon foot print. We shall do this by
helpingour farmers and vendors improve their practices in agriculture. The program will
help farmers in maintaining the quality of soil, air & water thereby ensuring
environmental sustainability & ecological balance. The effort will include in its scope,
training, awareness building, subsidized supply of safe and clean packaging materials,
at cost supplies of plant protection chemicals and nutrients.
2. Installation and supply of toilets in areas where access to clean toilets is difficult.
Eg market yards, schools in villages where we operate, thereby once again improving
thequality of life of the people who interact/depend on us.
3. Supporting the needs of school going children of their books, shoes, school kits and
uniforms, in and around our operating areas, so we touch the lives of our workers, vendors,
service providers and farmers. Building up a relationship with them so that there is a dialog
and many points of connect, that demonstrates our interest in them, our value systems and
thereby our ability to communicate with them in the most difficult of times on all possible
subjects.
Mane Kancor encourages its employees to be socially responsible and has helped
employees set up their own forum to contribute to the development of the community.
Thus, with a need-based approach, Mane Kancor touches the lives of people around its
facilities and helps change their standard of living

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3.10 Awards won -ISO certification

a) Quality assurance

Quality Assurance / Quality Control departments of Mane Kancor are well equipped
with laboratory facilities to perform all the active ingredient analysis requirement of
Customer. Qualified and trained technicians are available to perform the analysis. ASTA
proficiencyand internal proficiency test are conducted to ensure the competency of the
technicians.
Standard analytical methods are used to perform the analysis. QA supports the buying
decision, RM analysis, in-process, and finished goods analysis to meet the stringent
quality and food safety requirement of customer and regulatory bodies.

Mane Kancor’s Labs are equipped with sophisticated equipment’s to meet the current food
safety requirement and is accredited by NABL.

3.10.1 Certifications

Mane Kancor’s product adheres to global standards and is certified with FSSC 22000,
ISO 9001, ISO 14001, ISO 45001, ISO 50001, HACCP & GMP, RSPO & FAMI – QS.

Our Products are also certified for Halal, Kosher, and Organic (NPOP, NOP & EOS).
Mane Kancor has also partnered with SEDEX as an ethical and Responsible supplier.

All the manufacturing sites are coming under FSSAI (Food Safety and Standards
Authority of India) central licensed units. Mane Kancor has obtained a Drug License and
is recognised by Department of Scientific & Industrial Research (DSIR), Ministry of
Science & Technology, Govt. of India.
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3.10.2 Awards won

Mane Kancor won the Innovation Product Award at FI India 2022, held in
Bengaluru from the 21st to the 23rd of September. The award was bestowed for the
product Colouring Foods- Hibiscus extracts showcased at FI India 2022. This year the
event witnessed an array of new product concepts, panel discussions, and product
exhibitions from Mane Kancor.

Mane Kancor Ingredients Pvt Ltd has bagged the CII Award for Food Safety
consecutively for the second time at a virtual event held on the 22nd of December 2021.
We are proud to receive the CII Food Safety Award as it is a strong recognition for the
company’s focus and commitment towards food safety in all our ingredient solutions
offered to the customers. We won the Commendation Certificate for Significant
Achievement in Food Safety under the category of large manufactures of food
ingredients, processing aids, oleoresins, and essential oils for the year 2021.
Mane Kancor won the EHS Gold Award for the “Best Organisation for Overall EHS
Practices”. The award was announced at the CII Inter-Industry Competition on EHS 2021
& Sharing of best practices on Environment, Health and Safety Management (EHS).

Kancor, a forerunner in the field of Global Spice Extractions & Essential Oils has
beenrecognised as one of the 10 most promising essential oil providers in 2020 by
SiliconIndia.

SiliconIndia is one of the largest contents and community networks for Indian
professionals, entrepreneurs and students worldwide. Since 1997, they have inspired
successes for Indian professionals through their thought provoking SiliconIndia career
events and magazines.

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 3.11 SWOT Analysis

a) Strength

Some of the strengths of Kancor Ingredients Limited which I found out during my
organizationalstudy are it has spice trading traditions from centuries back. Kancor got ISO
45001,,ISO 50001,HACCP, USDA organic, HALAL certified company. It has got
multiproduct production facility. And also it offers high quality products at competitive price.
And the company is located in ‘land of spices’-Kerala. There are many experienced people in
the company. Kancor is the oldest oleoresin plant in Kerala. It has got an responsive customer
service. It is good expertise in oleoresins, flavor and extracts. Also there is an excellent IR &
HR atmosphere.

b) Weakness

Some of the weaknesses of the company are modern technologies emerge worldwide and
there is no direct contact with final customers also the Environmental hazards adversely affect
the functioning of the company. Also there is difficult in transportation and the Poor crops in
different parts of world cause irregular supply of raw materials. There is a lack of
advertisements. And the Supply chain depends on market conditions. The size of the regional
market is very small. It is due to high prices of the products. .

c) Oppertunities

Some of the opportunities for the Kancor ingredients Ltd are Vertical integration,
Product diversification, many of the companies are now globally outsourced to India, and also
Better position than their competitors. It has got a versatile process and also the global demand
will increase in 2022-2027. Focus on new products and high value products are growing in
R&D. Direct marketing will increase. Good monsoon expected this year. A stable government
in centre will help to increase exports

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d) Threats

Some of the threats of Kancor ingredients Ltd are straight control by US and UK markets.
And also the straight control by environmental agencies such as PCB (Pollution Control Board).
The new E-commerce strategies are adopted by the leaders in the industry. High cost
technologies are evolving in the company. Shortage of manpower with technical/key skills. And
also the retirement of experienced workers.

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 CHAPTER 4

STUDY OF DEPARTMENT

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4.1 Commercial Department

4.1.1 Structure of Commerce Department

Managing Director

Business Head (Extracts)

DGM (Supply)

Local Purchase Manager Manager for Imports

Executive
Senior Executive

Executive Executive

Fig no4.1Struture of commerce dept

As a manufacturing company, the most important function is the sourcing and processing
raw materials. The commercial department concentrating on logistics, advance licensing and
buying of raw material. This department report to CEO.

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 . This department collecting information about global availability of the raw materials. The main
raw materials of KANCOR are Pepper, Chilly, Turmeric, Celery and Nutmegetc. Raw materials
are collecting from local market as well as imported from different countries like Vietnam, Sri
Lanka, Indonesia and Malaysia. Almost 95% of pepper has imported from the Sri Lanka and more
than 80% of ginger form Indonesia. In the case of new suppliers, firstly they a sample from the
customers. Then the quality assurance department checks the raw materials. The quality of raw
materials is good then they pass to production department for a trial lot. If trial lot is acceptable,
suppliers have added their supplier list.

Commercial Department is headed by the business head and he is reporting to the CEO. He is
assisted by Deputy Commercial Manager. There are two sections under the Commercial manager.

a) Local Purchase

b) Imports

a) Local purchase

All the domestic purchases are coming under this section. It is carried out by the Local
Purchase Manager with the help of Local Purchase assistant Manager and the Executives. The
purchase within the country is done by the local purchase department. The major purchases are on
chilies, turmeric, ginger, celery, herbs like alpha-alpha, rosemary etc. E.g. Chilly biught from
Vijayakrishna spices, Andra Pradesh

b) Imports

Some raw materials are imported from other countries as they are not available in the local
marketor which are very cheap in the foreign market as compared to the domestic market. It is the
done by the manager for Imports and he is assisted by senior executive for Import. Major imports
are on pepper, turmeric, ginger, white pepper, cashew, nutmeg etc.

E.g. Pepper supplied from Shukra, Srilanka

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Main functions

1. Logistics

2. Advance licensing

3. Buying Raw materials

4. Watch the market. Make daily reports on price and availability of spices.

5. Negotiate with vendor for quantity, price and quality

6. Check the arrival schedule of raw materials.

7. Coordinate the sales team

8. Vendor management system

Suppliers are selected mainly based on three factors

1. Correct delivery time

2. Quality of materials

3. Best negotiated price

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 Kancor have 2 – 3 suppliers from same origin for supplying raw materials. The company has
the storage capacity of 300 to 400 million tons of goods. Godowns are meant for 3 types of goods.
Raw materials, intermediate good and finished goods. Thus they ensure continuous supply of raw
materials for production.
The company is never ready to make adjustments with the quality of the goods. It concentrates on
activity ingredients and not on appearans.

4.2 Finance and Accounts Department

Structure of finance and accounts department

MD

CFO

FINANCE

MIS TREASURY
ACCOUNTS

Fig No4.2 Structure of Fin and Accout dept

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 Financial department will handle all the financial activities in the company like maintain the
recordof receipt and payment. Accountant maintains the sales records; maintain the records from
buyers and customers. The finance department handles taxation and insurance. The finance
department also deals the legal matter. It also does the foreign bill discounting through their foreign
exchangebank. Rising of working capital sundry debtor’s management, management of loans etc.
Have doneby the finance department. The company has a very strong position. It does work together
with theMIS department for preparation and updating of profit & Loss account, Final accounts,
cash flowstatement and fund flow statement.

Their division arranges money for company operation by credit from bank, issuing shares,
debentures, loans, retained economy etc. This company mainly depend two types of credit facility
from the bank. They are a packing credit (per shipment credit) packing credit manually given to
exporters. It has low interest rate. It helps the production and packaging for the shipment process.
Foreign credit (post shipment credit) credit should liquidate within six months by producing the
export documents. The company issues two types of shares, that are equity shares and preference
shares. The Mariwala family members subscribe all shares.

1. Accounts Division

The accounts department using tally for their accounting purposes. Accounting clearly records
allthe transaction and updates all necessary files.

1. Sales Book

2. General Ledger

3. Personal Ledger

4. Material Stock Ledger

5. Balance Sheet

2. MIS division

The main function of this division prepares budget report.MIS division collects data from all
departments which is using for budget preparation. MIS also doing the activities for collecting
actual result and comparing with the data has and according to the budget is preparing. It helps the
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financial to reduce deviation of actual results from budget.

3. Treasury

This division takes care of investments, operations; payback to financial institutions etc.
Kancor has investments in mutual funds, acquisition/setting up of new companies, in group
companies etc.

4. Raising Fund

There are different methods of raising funds. It can be through capital raised from the share
holders, borrowing as loans from banks etc. All these activities are planned based on the
requirement and it is done by the accounts department. The manager present with different options
to CEO and get approval from the management and then move on with the procedures for raising
the funds.

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4.3 Marketing Department

4.3.1 Marketing Department Structure

CEO

BUSINESS HEAD

DGM

ACCOUNT MANAGER

ASSISTANT MANAGER

CUSTOMER SUPPORT
EXECUTIVE

Fig No4.2Struture of Marketing Dept

4.3.2 Marketing Devision

Marketing division is responsible for planning, organizing, directing, and controlling the
marketing activities. The basic goal of marketing is satisfaction of needs of customers and
generation of revenue for the business.

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The main responsibilities of this department are:

1. Business generation to targeted level (Sales Forecasting, Order booming, Market Development,
Enquiry generation, Publicity and Advertising support)

2. Collection of payment

3. Coordination with the departments and ensure customer satisfaction by adherence to time.

4. Coordination with administration and accounts in factors like budgeting

5. Promotion of products through worldwide food exhibitions, advertising in neutraceutical

journals etc.

6. Product stocking and packaging

7. Advising the R & D department to develop related products according to customer requirements
and suggestions.

4.3.3 Sales Division

The sales within the country are done by the Local Sales Division. The sales abroad are done by the
Exports Division. These two are controlled by the manager and assistant manager in each division
and they are supported by executives. There are three modes of sales i.e.

1. Direct sales and

2. Dealer Channel sales

3. Traders

The direct sales are done through the sales and marketing personal and it is managed directly
through the firm.
The firm has appointed dealers in different other states and the dealer management is done by
marketing and sales department. The marketing support and sales lead management is done by the
company personnel.

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 The orders placed by the dealers are scrutinized and once the order is placed, the dealer’s job
is over. The rest of the process is completely handled by the marketing and sales department. The
dealers are provided with a commission for each order which is disbursed on completion of each
order process.

The consumer of Kancor is mainly meat industries (Sausages) or industries related to

neutrachemicals. In India the main customers are Nestle, ITC, Boost, HUL etc. Main export
companies are Mc Cormick, Griffith, Symrise, International Flavours and Fragrance (IFF) etc.

More than 80% of the cost of product is contributed by the raw materials. Chilly is being
collected from Andra Pradesh, Karnataka and pepper from Sri Lanka, Indonesia, and Vietnam etc.
The company which buys raw materials at the cheapest price is more competent. Maximum raw
materials are brought at their crop season. Price fluctuation is an important factor which affects
the demand for industries requiring large volume of products. Annual contracts are maintained.
For example, for chilly the crop season is from January to May. More actual users engage in
contracts and the company is liable to keep the same price throughout the contract. For biggest
buyers the company provides 5-10% discount. In short company which has better stock position
gains more.

Kancor also does internet marketing. There is an enquiry format in the webpage. The procedure is
as follows for prospective customers.

1. Enquiring the requirement

2. Getting maximum information like quality requirements etc.
3. Sending a sample
4. Price details
5. Responding to the order
6. Delivery within 6 months to 1 year.

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4.4 Research and Development Department

4.1.1 Research and Development Department Strtuchure

GM

MANAGER

ASSISTANT
MANAGER

SENIOR EXECUTIVE

EXECUTIVE

OFFICERS

Fig4.4 Structure of R and D

The research and development department does a major part analysis for the company’s
production. They do work on sample. R & D does the work that supports the marketing divisions.
The department is connected to specialty products division. They also analyze on solvent that need
to be using for extraction and decide on their effective mixture.

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4.4.2The Functions of R &D Department are

1. New product development

2. Adding more values to the existing product

3. Process improvement

4. Cost reduction

5. Improve the product quality to meet the customer needs

6. Product development on self-intimation of the department members.

The request to the research and development can be internal or external. The internal request
is mainly from the production department. The department will take appropriate steps in that
request. The external request will be from the customers. The customer requirement will be
forwarded fromthe marketing department. Research and development will analyze the customer
needs and decideswhether to accept or reject that offer, they will analyze the requirement of the
resources and do review operation in the pilot plant.

Steps incurred in product development are as follows:-

1. Request from marketing department

2. R&D accesses the feasibility

3. If it is feasible, the allocation is done.

4. Product being developed in the lab.

5. Standardization of the product in the pilot plant

6. Finally commercialization of the product by production department.

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CHAPTER 5

CONCLUTION

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 5.1 Learning Experience
As a marketing intern, there are several valuable learning experiences that i gain from this role.

a) Understanding Target Audience: One of the most important things I learn is how to identify
and understand target audience. I learn how to create buyer personas, conduct market research,
and analyze customer data to better understand the needs and preferences of audience.

b) Creating and Executing Campaigns: As a marketing intern, I get the opportunity to work on
various marketing campaigns, including email marketing, social media marketing, and content
marketing. I learn how to create compelling copy, design eye-catching visuals, and measure
the success of campaigns.

c) Collaborating with a Team: Marketing is rarely a one-person job, and as an intern, you'll be
part of a team. You'll learn how to collaborate with other team members, including designers,
writers, and analysts, to create cohesive marketing campaigns.

d) Learning New Marketing Tools: Marketing is constantly evolving, and as an intern, I

exposed to a variety of marketing tools and technologies.I learn how to use email marketing
platforms, social media management tools, and analytics software to measure the success of
your campaigns.

e) Building Professional Network: Lastly, being a marketing intern is was a great way to build
my professional network. I get the opportunity to meet and work with a variety of marketing
professionals, including your colleagues, industry experts, and potential employers. This was
invaluable as i begin my career in marketing.

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 5.2 Learning Outcomes

a) Practical Experience: One of the most significant learning outcomes I gain from being a
marketing intern is practical experience. I get the opportunity to work on real-world marketing
projects, which can help you apply the theories and concepts you learned in school to actual
marketing scenarios.

b) Industry Knowledge: As a marketing intern,I learn about the latest marketing trends, best
practices, and technologies. This knowledge can help my stay up-to-date with the ever-
changing marketing landscape and be better prepared for your future marketing career.

c) Teamwork and Collaboration: Marketing is a collaborative field, and as an intern, I work

with a team of marketing professionals. I learn how to work with others effectively, share
ideas, and contribute to a team's success.

d) Time Management: As an intern, I assigned multiple projects with varying deadlines. This
workload can help you develop time management skills, such as prioritization, task
management, and meeting deadlines.

e) Analytical Skills: Marketing involves analyzing data to make informed decisions. As a

marketing intern, I learn how to analyze customer data, campaign metrics, and industry trends
to make informed marketing decisions.

f) Communication Skills: Marketing involves communicating with customers, colleagues, and

stakeholders. As an intern, I learn how to communicate effectively through various marketing
channels, including social media, email, and website copy.

5.3 Critical Appraisal

Some of the findings which I come across in this organizational study are there is a
declining trend was noticed in pepper industry. The issue of duty free license to specified value

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addition norms and export obligations has been advantages to the company. Also the ginger oil
export hasbeen declined. The Japan was emerging as major trading competitors for pepper oil
and USA is the major buyer of ginger oil. Financially sound company and there is a good
industrial relation. Also the company got qualified and skilled workers. And there is a friendly
environment. USA isthe major buyer of ginger oil. Also the company got long-term experience
in the market. And also majority of employees were satisfied with the working condition. The
company has a good R & D Department. The company has a centralized computer system. The
company provides employment to the local people. The main customers are Pepsi, Nestle,
Hindustan Uniliver ltd, Wipro and Dabur. A k Flavors, Synthite, Plant Lipids and AVT are main
competitors.

5.4 Suggestions

Some of the suggestions in my opinion are management should consider the performance of
employees for taking promotion decision also the company should exploit the domestic market.
It should expand export opportunities. The organization should provide better recreation facilities
to the employees like reading room, library, culture association etc. Also the company should
increase the sales promotion activities in the Indian market. Company should improve the
logistic orientation and try to have a logical vision and turn its efforts to meet these visions.

5.5 CONCLUSION

The organization study conducted at the firm. Kancor Ingredients Ltd helped a lot to know
about the working of the enterprise.The report presented is based on the prevailing situations of
the market. However, the fluctuations in the global economy, the situation is expected to improve
bythe second quarter of the financial year. The long term outlook of global oleoresins industry and
Kancor is very much positive with efforts such as diversification. In the study, the organizational
structure which includes different individual departments and their sub divisions, how they
operate. The different functions of each department and the roles of each staff were situated. The
company is very prospective and promising.

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 The strengths of the company are unquestionable and that will overcome the weakness easily.
By their business expansion they can be in the prime position.

Interning at Mane kancor provide valuable hands-on experience for me as a recent graduates
looking to pursue a career in business. A B2B firms operate in a different context than business to
consumer (B2C) firms, and internships exposed me to unique challenges and opportunities.
During internship, i have the opportunity to work on projects related to sales, marketing, customer
service, supply chain management, and other critical areas of B2B firms. These experiences help
to develop relevant skills and build a professional network that can help them secure future job
opportunities.
Furthermore, internships at Kancor firms may offer insights into different industries, such as
technology, manufacturing, or finance, which can help interns understand how businesses operate
and make decisions in a B2B context.
Overall, interning at Mane Kancor can be a valuable learning experience that provides interns
with relevant skills, knowledge, and networking opportunities. It's essential to research and
identify firms that align with your interests and career goals to make the most of your internship
experience.

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BIBLIOGRAPHY

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 BOOKS

a) Rajan Saxena “Marketing Management” published by Tata McGraw-Hill, 3rd Edition

b) Czinkota,kotabe “Marketing Management” published by Thomson, 2nd Edition
c) Hoskisson,Hitt “Strategic Management” published by CENGAGE Learning,4th Edition
d) Thomas L Wheelen “Strategic Management” published by PEARSON Education 8th Edition
e) Kotler Philip, Keller Kevin, Koshy Abraham & Jha Mithileshwar, MARKETING
MANAGEMENT A South Asian Perspective-Pearson Education 4th Edition
f)Kothari, C.R(2004). Research Methodology: Methods and technique(2nd Ed), New Age
International Publishers
WEB

1. www.Kancor.in
2.. www.spicesboard.com
3.https://worldspice.com/
4. https://www.alliedmarketresearch.com/food-ingredients-market-
A11028#:~:text=The%20global%20food%20ingredients%20market,increased%20among%20the
%20global%20population
.
Other Refrences
1. Magazines of kancor
2. Manuals of kancor
3.Kancor database

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