Synthite
Company typePrivately held company
IndustryManufacturing
Founded1972
FounderC V Jacob
HeadquartersKolenchery, Kochi, India
Area served
Worldwide
Key people
  • Late C V Jacob
  • (Chairman)
  • Dr. Viju Jacob
  • (Managing Director)
ProductsValue added spice extracts (oleoresins)
Websitehttp://www.synthite.com

Synthite Industries Private Ltd. is an Indian oleoresin extraction firm, world’s largest producer of spice extracts, spice powders, and essential oils. Synthite has footprints in India, China, Brazil, USA, Vietnam and Sri Lanka. The company employs 2000 people and supports a farmer community of around 14,000. In 2008, Synthite had a 30% market share globally.[1][2] Its major clients include Nestle, Unilever, ITC, Bacardi and Pepsico.[3] The company is run by the founder's son, Dr. Viju Jacob.[4] and is headquartered in Kochi, India.

History

The company was established in 1972 with 20 employees. It was founded by C. V. Jacob, after working in civil construction for two decades.[5] It produced industrial chemicals before it shifted to oleoresins.[6] The oleoresin business was initially based on research by the Central Food Technological Research Institute in Mysore. However, the technology developed was not mature, and Synthite invested years of research and development to make the technology viable. After another four years they convinced food producers that they could produce quality products on time.[2]

In 2018, Synthite inaugurated its blending facility in Sao Paulo, Brazil and produced up to 190 tonnes per annum of oleoresin and essential oil blends.[7]

The Synthite Industries Employees’ Union (affiliated to CITU) called a strike in the first week of April, 2018 after seven employees were transferred to other states.[8] The 37-day-long strike was called off after talks held in the presence of the labour commissioner turned violent.[9][10][11]

The following year, the company started its third manufacturing facility located at Wucheng county in Dezhou in China's Shandong province.[12] Observers quoted by Outlook, an Indian magazine, felt that the company has over-invested in capacity, increasing their costs.[2]

References

  1. ^ "Synthite group targets Rs. 1,000 crore revenue". The Hindu. December 21, 2008. Retrieved February 17, 2015.
  2. ^ a b c Mathai, Adit (July 20, 2013). "Spice ManKerala-based flavouring company Synthite is banking on its Chinese expansion to triple revenues by 2020". Outlook Business.
  3. ^ Zacharia, Reeba (June 18, 2014). "Spice exporter Synthite plans domestic market entry". The Times of India. Retrieved February 17, 2015.
  4. ^ "Synthite to strengthen operations in Chinese and US markets". The Economic Times of India. October 12, 2014. Archived from the original on 25 Jun 2016. Retrieved February 17, 2015.
  5. ^ Mathai, Adit (20 July 2013). "Spice man – Outlook Business". thespicejournal. Retrieved 14 July 2017.
  6. ^ "Synthite eyeing Rs 3,000 cr turnover by 2020". Business Standard. July 29, 2013. Retrieved February 17, 2015.
  7. ^ "Inauguration of the new GMP Blending facility at Valinhos- São Paulo, Brasil". www.synthite.com. Retrieved 2022-04-18.
  8. ^ "CITU protest at Synthite Industries' plant turns violent in Kerala". Indian Express. 2018-04-29. Retrieved 2018-04-06.
  9. ^ "Industries decry Synthite Industries Ltd strike". Deccan Chronicle. 2018-06-06. Retrieved 2018-06-06.
  10. ^ "Synthite threatens closure of factory after fresh strike". Times of India. 2018-06-06. Retrieved 2018-06-06.
  11. ^ "Synthite strike: Talks remain inconclusive". Indian Express. 2018-04-29. Retrieved 2018-06-06.
  12. ^ "Modi, Xi to meet next week at SCO summit: Ambassador". The Economic Times. 2019-06-06. Retrieved 2019-10-24.

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