Indian appetite for speciality imported foods grows as incomes rise

Sales of imported food items are growing at 20-25% and are seen touching 30-35% in the next two years. The sales of olive oil have overtaken those of Saffola, a premium cooking medium made from sunflower seeds, in Big Bazaar and Food Bazaar, the food and grocery retail chains of India’s largest listed retail company Pantaloon Retail (India) Ltd. That olive oil costs two-and-a-half times the price of regular sunflower oil and is at least 25% more expensive than Saffola hasn’t deterred buyers.