The Marine Products Export Development Authority (MPEDA) has signed an agreement with Sysco of the US for promotion of Indian black tiger shrimp, including co-branding of the product.
The agreement was signed by MPEDA chairperson Leena Nair and Sysco vice president James Butch Vidrine on Monday.
Sysco had earlier submitted a detailed proposal for promotion of Indian black tiger shrimp through its network by branding it as MPEDA-Portico shrimps. The proposal contained three phases of brand promotion. The total estimated expenditure for the entire promotion programme is projected at $2.31 million, which will be shared between Sysco and MPEDA.
Sysco is a Fortune 500 food service company and is North America's leading foodservice marketer and distributor. It is a global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home.
With record sales of $37.5 billion in fiscal 2008, Sysco continues to be the global leader in the foodservice industry. Operating from over 170 locations throughout the United States and portions of Alaska, Hawaii, and Canada, the company employs around 50,000 employees in its daily operations.
Sysco has a diverse product line and service relationships with around 400,000 customers. With its vast network across the US, the company has a capacity to absorb almost 10,000 tonnes of black tiger shrimps from India.
MPEDA expects the tie-up with Sysco to make a big difference to India's export earnings.