Karuturi to outsource Ethiopian land to Indian farmers

Karuturi Global, the city-based publicly-held floriculture major and one of the world’s largest exporter of roses which is aggressively rolling out an agriculture business venture in Ethiopia, is looking at outsourcing 20,000 hectares of farm land in the African nation to Indian farmers on a revenue-sharing basis. The company has leased 300,000 hectares in Gambela, [...]

Karuturi Global, the city-based publicly-held floriculture major and one of the world’s largest exporter of roses which is aggressively rolling out an agriculture business venture in Ethiopia, is looking at outsourcing 20,000 hectares of farm land in the African nation to Indian farmers on a revenue-sharing basis.

The company has leased 300,000 hectares in Gambela, in the western corner of Ethiopia. It has been looking to develop a bouquet of crops such as paddy, maize, cereals, palm oil, and sugarcane, among others, to cater to the huge demand in Africa and also look at the export market. According to senior officials of Karuturi, they have taken possession of 100,000 hectares, and after the completion of this, they will be able to take possession of another 200,000 hectares.
“We have got a decent response. We intend to give land and the necessary infrastructure to farmers who have the expertise in specific crop cultivation and get into a revenue share (65:35) with them. We hope to have agreements reached for around 20,000 hectares in the near future as part of the first phase,” a senior company official told Business Standard.

The first phase will be over by the end of this financial year. As part of its expansion plans in this sector, Karuturi had earlier this year held discussions with farmers from Punjab interested in this venture.
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Karuturi to outsource Ethiopian land to Indian farmers

Karuturi Global, the city-based publicly-held floriculture major and one of the world’s largest exporter of roses which is aggressively rolling out an agriculture business venture in Ethiopia, is looking at outsourcing 20,000 hectares of farm land in the African nation to Indian farmers on a revenue-sharing basis. The company has leased 300,000 hectares in Gambela, [...]

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Karuturi Global, the city-based publicly-held floriculture major and one of the world’s largest exporter of roses which is aggressively rolling out an agriculture business venture in Ethiopia, is looking at outsourcing 20,000 hectares of farm land in the African nation to Indian farmers on a revenue-sharing basis.

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The company has leased 300,000 hectares in Gambela, in the western corner of Ethiopia. It has been looking to develop a bouquet of crops such as paddy, maize, cereals, palm oil, and sugarcane, among others, to cater to the huge demand in Africa and also look at the export market. According to senior officials of Karuturi, they have taken possession of 100,000 hectares, and after the completion of this, they will be able to take possession of another 200,000 hectares.
“We have got a decent response. We intend to give land and the necessary infrastructure to farmers who have the expertise in specific crop cultivation and get into a revenue share (65:35) with them. We hope to have agreements reached for around 20,000 hectares in the near future as part of the first phase,” a senior company official told Business Standard.

The first phase will be over by the end of this financial year. As part of its expansion plans in this sector, Karuturi had earlier this year held discussions with farmers from Punjab interested in this venture.
Read more here

No comments yet... Be the first to leave a reply!

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Bad Behavior has blocked 3948 access attempts in the last 7 days.