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ITC Ltd has become the top player in the Indian food industry, outperforming competitors like Adani Wilmar, Britannia, Parle Products, and others, as per recent data from NielsenIQ, a market tracker. The information shared by industry insiders indicates that ITC recorded food FMCG sales of Rs 17,100 crore in the nine months ending in September. This surpasses Britannia’s Rs 16,700 crore, Adani Wilmar’s Rs 15,900 crore, Parle Products’ Rs 14,800 crore, Mondelez’s Rs 13,800 crore, and Hindustan Unilever Ltd (HUL)’s Rs 12,200 crore.

In the same period last year, ITC held the fourth position while Adani Wilmar led the market. Adani Wilmar’s sales were Rs 16,100 crore, Britannia reported Rs 14,900 crore, Parle Rs 14,800 crore, ITC Rs 13,900 crore, and Mondelez Rs 12,400 crore, according to NielsenIQ.

Industry experts attribute ITC’s success over Adani Wilmar to a significant drop in edible oil prices, affecting Adani Wilmar’s revenue. During the nine-month period, edible oil prices in September were less than $1,000 per tonne, a decrease from the peak of $2,000 per tonne in April-May 2022.

In contrast, ITC benefited from increased atta (flour) prices. The Aashirvaad brand of packaged atta played a pivotal role in boosting the company’s food business revenue. Moreover, ITC’s diverse portfolio experienced growth, with the company launching more than 100 food FMCG products annually. Hemant Malik, Executive Director of ITC Ltd, highlighted that every product category in the company’s food business contributed to its growth this fiscal year.

ITC’s portfolio includes high-growth categories such as biscuits, witnessing an 11% growth in the current calendar year, and salty snacks, experiencing a growth of over 20%, according to Malik. He attributes the revenue growth to current trends and the rise in atta prices.

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