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ITC launches fresh fruit & veggie brand Farmland

Friday, November 3, 2017, 17:00 Hrs  [IST]

As per a report in Business Standard, diversified conglomerate ITC on Thursday forayed into the fresh fruit and vegetables market with a new brand Farmland. Beginning its journey in the highly untapped packaged fresh vegetables market in India with four variants of potatoes, the company plans to come up with more such offerings every quarter in line with its newfound focus on branded fresh and processed food and beverage market.

According to S Sivakumar, Head of Agri Business, ITC, the product category is currently the largest among all fresh fruit and vegetables in India, seeing a total business of INR 70,000 crore. The new products will be priced at up to 15% premium to unorganised market prices. And their retailers will be allowed to adjust prices depending on retail market prices. Initially, seven metros, including Delhi, Kolkata, Bengaluru and Mumbai, will be covered over the next 12 months. The firm is exploring other products like leafy vegetables and several forms of apple. It is also working on several other vegetables like onions in processed and dehydrated forms, to be launched later under a separate brand, he said.

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