Entrepreneur, Paresh Shetgaonkar, founder of a extra virgin coconut oil manufacturing unit in Verna, is on a winning ticket thanks to his Mogo brand, reports Shoma Patnaik
Morjim based Paresh Shetgaonkar is on an accolade winning spree. Founder of My Old Goa Oils, a Verna based unit that manufactures extra virgin coconut oil, Shetgaonkar’s product MOGO received the best natural product award from the Ministry of Food Processing recently. Rameshwar Teli, minister of state for food processing industries presented the award to Shetgaonkar in New Delhi.
Besides the national recognition, MOGO is also shortlisted for the final rounds of SIAL Innovation awards, to be held on December 9, in Abu Dhabi. SIAL or Salon International de lamination is an international trade fair by a French company which specialises in the food industry. It is a prestigious event that that showcases the world’s most innovative products and serves as a meeting ground for buyers and sellers from more than 109 countries. The trade fair comprises several events of which one of them is an Innovation competition.
Shetgaonkar reveals that, to get shortlisted in the competition his product was first tried, tested, certified and judged in Paris. He says that, MOGO is shortlisted for two new innovations, as a dental mouth oil pulling product and as a gold infused salad garnishing oil.
Despite Goans consuming coconuts daily and having coconut trees in their backyard, commercial usage of coconuts remains low in the state. Of the few virgin coconut oil manufacturers in the state, Shetgaonkar’s unit based in Verna is the only one manufacturing pharma grade extra virgin coconut oil.
The unit confirms to international standards and is as per APCC, BRC standard. The plant is certified organic and a European Union standard unit. It is fully automated and took about 10 years to commission starting from the ideating stage to R&D and sourcing plant and equipment stage to the final manufacturing.
He says that, the extra virgin coconut oil manufactured by the unit is based on traditional Goan recipe for food and on old Goan heritage for cosmetics. “My unit is connected to more than 300 local coconut farmers. The aim is to source raw material from about 3,000 farmers in future so as to give growers better revenue return,” says Shetgaonkar. MOGO is an innovative business model for the state, he believes.
The award from the Miniusrry of FP is not the only one that Shetgaonkar is bagged. Previously in September 2019, he won the Economic Times award for the best food processing and packaging company in 2019-20.
The MOGO unit was started in 2016. All its products are 100% natural and use the highest quality of ingredients. It means no artificial colour, no artificial fragrances, no enzymes, no petrochemicals, chemicals or other harmful additives. All the products are internationally certified and sold in the export market.