In 2017, ITC had entered the unorganized packaged fruits and vegetables market in India under the Farmland brand, starting with a few varieties of potatoes
Diversified conglomerate ITC Ltd said it is set to increase direct procurement of farm produce to leverage the recently announced agriculture reforms, and to ramp up production of medicinal and aromatic plants amid the opportunity in immunity-building products in a post-covid world.
“The recent government reforms in agricultural marketing and amendments in the Essential Commodities Act will facilitate increased corporate engagement in agriculture. This will also help farmers garner higher incomes by getting linked to sustainable value chains and aligning their produce to market demand. ITC has been over the years strengthening procurement of wheat and other grains through direct procurement models, which will get further ramped up now," S. Sivakumar, group head, ITC’s agri business, told reporters on Friday, over a web conference.
He added that the post-covid consumer is likely to shift to packaged produce, as well immunity-building products, which present an opportunity for ITC to expand its range of packaged fruits and vegetables under the Farmland brand.
This will, in turn, prompt ITC to source at scale both for its domestic brands as well as for exports.
In 2017, ITC had entered the organized packaged fruits and vegetables market in India under the Farmland brand, starting with a few varieties of potatoes.
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