Olivine launches low fat buttercup product

In line with Government’s industrialisation and value-addition thrust, Olivine Industries last week launched a new product, Buttercup Lite, following a US$15,5 million investment to develop the new plant.

Speaking at the launch of the product, Olivine Marketing Manager Ms Charmaine Munetsi said the launch of Buttercup Lite, a 40 percent low fat spread, was motivated by the need for health wellness and to curb the increase in lifestyle diseases.

“So in order to fulfill these needs that the consumers have, we are introducing a low fat spread which we are saying you can indulge guilt-free.

Speaking on the sidelines of the launch, Ms Munetsi said the new product is of the same quality and use with the original buttercup that has been in the market since 1958.

The new investment, and product, come at a time when local products have been dominating shelf space in most local supermarkets, according to authorities.

The new investment will also see the firm increase its investment in contract farming to secure soya beans, which is one of the ingredients in the manufacturing of margarine and cooking oil.

Speaking on the sidelines of the launch, Group Corporate Affairs Executive, Mr Sylvester Dendere said the company is supporting farmers to produce ingredients required for its products particularly the production of soyabean.

Government recently said private players must secure 40 percent of their annual raw material requirements from contracting farmers.

“The Government has said we need to secure most of our inputs locally and we would like to support our farmers to produce soybeans, which is a raw material for the manufacture of cooking oil,” said Mr Dendere.

Under the programme, farmers are supported with fertilizers, chemicals and even fuel.

The soyabean is then processed to give 18 percent oil and the balance is used for stock feed.

Mr Dendere said the introduction of the Buttercup Lite is to cater for the health conscious “because it has low fat”.

“The taste is the same but this is just to make sure that people that are health conscious can continue to enjoy the margarine without worrying,” said Mr Dendere.

Also speaking at the launch, the company’s Chief Operations Officer Mr Neeraj Vaidya said the market should expect 4 to 5 new products in the next six months to one year.

Of late, Olivine has been bringing back some of its old products that had been missing in the market.

According to Mr Dendere, the aim is to bring in all the products ‘that have gone away”.

“They had gone to sleep but now we are revamping them. We now have Jade, Big Ben, Dolphin, Perfection on the market.

“We also have Olivine Baked Beans and now we have our 2 spreads that are now on the market, Buttercup Lite and the usual Buttercup Margarine,” he said.-ebusinessweekly