SSC MTS EXAM

Detailed explanation-1: -Answer: Cargill Foods, a very large American MNC, has taken over a smaller Indian company Parakh Foods. Parakh foods had five oil refineries whose control has now shifted to Cargill, who are now the largest producer of edible oils.

Detailed explanation-2: -Cargill and Parakh Foods had come together because the MNC had sizeable financial and trading advantages in the import of edible oils, while Parakh had built a formidable marketing and distribution network for its brand Gemini, especially in southern India.

Detailed explanation-3: -Parekh Foods’ Prakash Parekh is expected to continue as managing director in the new dispensation. The deal is the first in a series of mergers and acquisitions the edible oil industry is expected to witness in the next few months.