New Delhi: The scope and scale of operations of ITC’s Agri Enterprise have grown manifold over time and at the moment encompasses practically 3 million tonnes of annual quantity in 22 states and over 20 agri-value chains, in accordance with the ITC Annual Report 2023-24.
The strategic focus of the enterprise in recent times has been to speed up development by quickly creating and scaling up Worth-Added Agri Merchandise (VAAP), straddling a number of worth chains comprising spices, espresso, frozen marine merchandise, and processed fruits, amongst others.
Amid the extraordinarily difficult working setting, ITC leveraged its sturdy farm linkages, in depth sourcing experience enabling traceable, attribute-based and identity-preserved sourcing of agri-commodities, multi-modal logistics functionality, agile provide chain operations, deep buyer relationships, and concentrate on scale-up of the VAAP portfolio to maintain enterprise operations through the yr.
ITC is one in every of India’s largest exporters of agri commodities with exports to over 85 nations.
ITC is a number one participant in spices corresponding to chili, turmeric, coriander, and cumin. In keeping with its technique of enhancing worth addition and ‘producing the purchase’, the enterprise has, in recent times, scaled up its presence in ‘meals secure’ markets viz. the US, EU, and Japan, leveraging its key strengths corresponding to identity-preserved sourcing experience, sturdy backward integration, custody of provide chain and customer-focused methods.
Throughout the yr, the enterprise consolidated its place as a most well-liked provider in ‘meals secure’ markets (non-public labels, steam sterilised, natural merchandise) leveraging deep buyer relationships, portfolio augmentation, and agile execution.
The enterprise scaled up its Natural and Built-in Crop Administration (ICM) programmes, thereby enhancing its skill to supply ‘meals secure’ spices in a sustainable method. The enterprise continues to accomplice with numerous State Governments for manufacturing of ‘meals secure’ spices and has maintained an unblemished observe report over time when it comes to compliance with stringent meals security parameters.
The enterprise continues to pursue sustainable farm administration practices anchored on Rainforest Alliance and International GAP accreditation.
Capability utilisation of the state-of-the-art spices processing facility in Andhra Pradesh has been ramped as much as allow ITC to increase its buyer base in ‘meals secure’ export markets, moreover selling inclusive spices worth chains benefiting hundreds of Indian farmers.
Throughout the yr, espresso costs witnessed a pointy enhance within the worldwide markets primarily as a result of decrease crop output in Vietnam. The tightness in provide, in anticipation of additional value will increase, resulted in decrease export volumes of Indian espresso. However these challenges, the enterprise registered sturdy development in exports, leveraging its strategic presence in key coffee-producing areas of India, deep understanding of property and region-specific varieties, and concentrate on premium grades of Arabica, Licensed Coffees, Specialty and, Monsooned Espresso.
ITC is likely one of the main exporters of value-added frozen marine merchandise from India with experience in processing individually quick-frozen (IQF), uncooked and cooked merchandise, adhering to the very best requirements of security and hygiene prevalent in developed markets such because the US, EU, and Japan.
Throughout the yr, ITC has emerged as one of many high three exporters of frozen shrimps from India to the EU market by increasing its footprint in sustainably sourced shrimps leveraging the Aquaculture Stewardship Council (ASC) programme.
The enterprise additionally gives sourcing assist to the ‘ITC Grasp Chef’ vary of ‘Tremendous Secure’ frozen prawns within the home market and provides high-quality shrimps to ITC’s Accommodations Enterprise.
Within the Processed Fruits & Greens phase, the enterprise continues to increase its footprint within the fruit pulp and tomato paste classes by way of a sturdy community comprising numerous small and marginal farmers in 4 states.
The enterprise continues to concentrate on its technique of transferring up the worth chain by scaling up its customised crop growth and cultivation programme in Madhya Pradesh to additional improve its experience in Medicinal and Fragrant Plant Extracts (MAPE).
Collaborations with farmers are being strengthened with the enterprise offering essential inputs, advisory, on-field assist, and enabling farmers to ‘produce the purchase’.
(IANS)