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HomePosts Tagged "INI Farms"
Horticulture, Supply Chain, Trade

The container was flagged off by Rajesh Aggarwal, Additional Secretary, Ministry of Commerce and Abhishek Dev, Chairman APEDA at MSAMB’s Irradiation Facility Center in Vashi

INI Farms, India’s leading F&V exporter flagged off the first container of ‘Kimaye’ pomegranates to the USA. This is a groundbreaking development for Indian F&V exports as it marks the start of fruit exports to the USA via the sea route. Travelling nearly 20,000 km, this is the longest distance travelled by any Indian fruit in the world!

The outcome is the result of more than year-long joint efforts of APEDA, Ministry of Commerce and Industry – GOI, Ministry of Agriculture Govt of Maharashtra, Maharashtra State Agricultural Marketing Board (MSAMB), United States Department of Agriculture APHIS (USDA APHIS), NPPO, Pomegranate National Research Center and INI Farms. This encompassed various initiatives from farm registrations, training & monitoring, air shipment trials, development of sea protocol, static trials for shelf life extension and post-harvest treatment.    

The container was flagged off by Rajesh Aggarwal, Additional Secretary, Ministry of Commerce and Abhishek Dev, Chairman APEDA at MSAMB’s Irradiation Facility Center in Vashi (Navi Mumbai). The event was graced by dignitaries from MSAMB, Regional Plant Quarantine Station (RPQS – MoA&FW), US Consulate and US International Development Finance Corporation (DFC), APEDA and NRC Solapur. The consignment of 4200 boxes (12.6 tons) of ‘Kimaye’ pomegranates is set to sail to delight customers in the US

Today, India is the world’s largest producer of pomegranates, with over 2,75,500 hectares of land under cultivation. During the fiscal year 2022-23, the country exported over 60,000 metric tonnes of pomegranates to countries like UAE, the Netherlands, Oman, Bahrain and others. The successful export of pomegranates to the USA opens up a new opportunity for Indian pomegranate farmers and exporters and will open doors to other long-distance markets like Australia.

The container was flagged off by Rajesh

Horticulture, India, Start ups

Agrostar group and LuLu Group are already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

In a landmark development for the Indian F&V/horticulture sector, INI Farms, part of the AgroStar group, has entered into a Memorandum of Understanding (MoU) with LuLu Group International, to build a direct farm-to-retail partnership for the Indian Cavendish Bananas. This is a further extension to a long-term partnership between the two groups already working on pomegranates and Guavas to bring Indian fruits to the supermarkets and hypermarkets of the LuLu Group in the Middle East.

The MoU signing on 23 January 2024, is a groundbreaking moment for Indian Banana exports as it marks the direct servicing of a reputed large global retailer like LuLu Group International by an Indian F&V Brand. The event kicked off earlier in the day with the Flag-Off of the first container from INI Farms’ packhouse in Baramati to LuLu Group UAE, followed by the MoU signing event at Pune, ushering in a new era of partnership and progress in the Indian F&V export business. The event was graced with the presence of Salim M.A., Director, LuLu Group International along with dignitaries such as Dr Sudhanshu, Secretary, APEDA, Dr Brajesh Mishra, Head, Regional Plant Quarantine Station, Mumbai, along with other senior representatives from NABARD, Aavishkaar Group and Maharashtra Agriculture department.  

Under this strategic partnership, INI Farms working with the AgroStar network of farmers in Maharashtra and Andhra Pradesh, will adhere to the highest standards of quality required for its products to be in global supermarkets and ensure a year-round supply to meet the demand of the LuLu’s end consumers. The partnership highlights the capabilities of the AgroStar group to serve Indian farmers across the value chain and fulfill the quality expectations of customers across the world. AgroStar’s tech capability, strong farmer relationships, agronomy expertise and wide range of agri input products combined with INI Farms’ strong sourcing, post-harvest & supply chain capabilities and its global network of customers/retailers gives the AgroStar group a unique advantage in India’s AgTech landscape.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “This MoU is a significant milestone not just in the journey of INI Farms, but also for Banana and Guava farmers across the country. We are excited about the prospect of directly servicing a highly reputed global retailer like LuLu and ensuring the highest quality of Indian bananas and Guavas from our farms to their retail shelves. We are grateful for the faith and trust shown by LuLu Group and excited about the opportunities this collaboration can bring for Indian farmers.”

Speaking during the event, Shardul Sheth, Co-founder and CEO, AgroStar said: “INI Farms has gone from strength to strength over the past few years. Last year, we witnessed landmark developments like the first Indian consignment of our ‘Kimaye’ branded bananas being shipped to the Netherlands and becoming a pioneer in the industry to successfully ship great quality pomegranates to the USA among other achievements. Our collaboration with LuLu Group International is yet another important milestone and a testament to our capability to be able to supply F&V products of global quality standards to marquee retailers and end customers around the globe and our passion to continue to build deep and meaningful relationships servicing the seed to market linkage needs of our farmers.

Sharing his thoughts during the event, Salim M.A., Director, LuLu Group International said, “This MoU is not just a trade deal, it is about celebrating the rich agricultural diversity of our nation and supporting our hardworking farmers. LuLu Group International aims to be the pioneer in sustainable agriculture and set new standards in quality and innovation. We have been working with INI Farms for close to a decade and this MoU further strengthens our collaboration. Together, in collaboration with our farmers and partners we will explore new markets and contribute to the growth of the agriculture sector. This MoU is a milestone and I’m confident that our partnership will be marked by success.”

Dr. Sudhashu, Secretary, APEDA, Ministry of Commerce & Industries shared his thoughts at the event, “The MoU signing, and Flag-Off event marks a historic moment for the Indian AgTech industry, representing a leap toward making banana exports the first billion-dollar fruit out of India in the next couple of years.”

Agrostar group and LuLu Group are already

Company News, Horticulture, India, Start ups, Supply Chain, Trade

The success of this trial shipment promises to unlock fresh prospects for Indian banana farmers in a market as quality conscious as Europe.

 AgroStar, one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win, is proud to announce a significant milestone achieved by its subsidiary, INI Farms. In an encouraging development for banana farmers in India, the first consignment of INI Farms’ ‘Kimaye’ branded bananas has been shipped to Fresh Del Monte in Europe, opening new horizons for the export of fresh Indian fruits.

The pilot was executed by INI Farms in collaboration with Agricultural Products Export Development Authority (APEDA), along with support from ICAR-Central Institute for Subtropical Horticulture (CISH), Lucknow for technical assistance, Fresh Del Monte for marketing and distribution in Europe, and Maersk for logistics. The export venture was flagged off on 9th November by APEDA Chairman Abhishek Dev from Baramati, Maharashtra.

Over the years, APEDA-registered INI Farms has earned a reputation for its strong sourcing infrastructure with inbuilt SOPs and enhanced the quality and shelf life of bananas to meet the stringent requirements of the European market.

Sharing her thoughts on the momentous occasion, Purnima Khandelwal, CEO, INI Farms said, “We are delighted to partake in this trial shipment aimed at cementing India’s presence in the banana trade in Europe. The success of this trial shipment promises to unlock fresh prospects for our banana farmers in a market as quality conscious as Europe.

Over the years, our brand ‘Kimaye’ has become a well-known global consumer F&V brand out of India, synonymous with great quality and food safety. We are proud to join hands with thousands of banana farmers across India as we cater to the growing global demand for Indian bananas.”

Shardul Sheth, Co-founder & CEO, AgroStar, expressed his enthusiasm, stating, “India is the largest producer of bananas in the world. We see massive opportunities in banana exports and its potential to transform the lives of banana farmers across the country. We are committed to working closely with our farmers and partners and make it the first billion-dollar revenue fruit category from India.

We extend our heartfelt gratitude to APEDA, ICAR, and all our cherished partners. Their unwavering support and invaluable contributions have been pivotal in steering us towards this momentous occasion.”

“We are proud to be the first company to market and distribute Indian bananas in Europe and to be a member of the partnership that made this happen,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and Chief Executive Officer. “Opening a new source of bananas to the entire European continent is a huge milestone and we hope this is just the beginning. We see this as a win-win for all parties involved, including consumers and banana growers across India. Thank you to our partners in this endeavour whose expertise in various sectors made this possible.”

The success of this trial shipment promises

Company News, Horticulture, India, Start ups, Supply Chain, Trade

The first consignment of 150 boxes of INI Farms’ – ‘Kimaye’ branded pomegranates has been air-shipped to New York, USA

AgroStar, one of India’s foremost AgTech start-ups, working on the mission of Helping Farmers Win, is proud to announce a significant milestone achieved by its subsidiary, INI Farms. In a positive development for pomegranate farmers in India, INI Farms has successfully conducted a trial shipment of high-quality pomegranate exports from India to the USA, opening up new avenues for the export of Indian fresh fruits.

The pilot was executed by INI Farms in collaboration with Agricultural Products Export Development Authority (APEDA), National Plant Protection Organisation (NPPO), Maharashtra State Agricultural Marketing Board, and Pomegranate Research Centre, Solapur. The first consignment of 150 boxes (450 kg) of INI Farms’ – ‘Kimaye’ branded pomegranates has been air-shipped to New York, USA. The export venture was virtually flagged off by Chairman, APEDA at the Irradiation Facility Center in Vashi (Navi Mumbai). The successful export of pomegranates to the USA highlights the immense potential opportunities that lie ahead for Indian farmers and the country’s F&V exports on a global scale.

Sharing her thoughts on the milestone, Purnima Khandelwal, CEO, INI Farms said, “The efforts of the entire INI Farms’ team over the years have helped put the Indian Farmer on the world map by making great quality Indian fruits available around the world. ‘Kimaye’ is now a well-known global consumer F&V brand out of India, synonymous with great quality and safety. We are delighted to enable this significant trial to establish India’s pomegranate trade with the USA and excited about the opportunities and increased livelihoods it can bring for our farmers.”

Shardul Sheth, Co-founder & CEO, AgroStar, expressed his enthusiasm, stating, “We are proud to be the pioneers in the industry to successfully ship great quality pomegranates grown by Indian Farmers to one of the most quality-conscious markets in the world, the USA. This pilot is an important milestone in our journey of opening up new horizons for Indian farmers and contributing to the growth of F&V exports from India. We are grateful to the role of APEDA, NPPO, Maharashtra State Agricultural Marketing Board, Pomegranate Research Centre, Solapur and US APHIS for their role in achieving this milestone.”

The first consignment of 150 boxes of

Company News, Finance, Horticulture, India, Start ups

This is the first investment from Aavishkaar Capital’s USD 250 Million “ESG First Fund”.

ESG First Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company and a global pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, and set up in partnership with KfW, a German state-owned development bank, announced their first investment of Rs 16 Crores (1.95 million USD) from the ESG First Fund into INI Farms.

ESG First Fund is a USD 250 Mn fund focused on investing in Asia and Africa with the mandate of generating superior Environmental, Social and Governance (ESG) outcomes and commercially viable financial returns alongside positive social impact. The Fund was established with the primary objective of improving these areas especially along the supply chains serving the European markets.

Founded in 2009, by Purnima and Pankaj Khandelwal, INI Farms is a leading exporter of fruit and vegetable crops with large-scale pan-India operations spanning contract farming, aggregation, supply chain management and are serving food retailers globally.

Purnima Khandelwal, CEO & Co-founder, INI Farms said, “The agriculture story in India is poised for a multi-fold growth. We believe that large platforms providing end-to-end services to the farmers from advisory and inputs to output offtake is going to drive this transformation. This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities.”

Commenting on the investment, Abhishek Mittal, Partner- Credit – Aavishkaar Capital said, “We are excited to invest in INI Farms and support them in their next phase of growth as it expands its product offering and geographical reach. INI’s Farms continued commitment to deliver export-quality fruits & vegetables produced in an environmentally sustainable and socially inclusive manner and to exacting global standards, sets it apart to meet the growing demands of today’s conscientious consumer. INI along with Agrostar, is well placed to meet the demands of global markets while empowering farmer at the back-end”.

Stephanie Lindemann-Kohrs, Director Global Equity and Funds, KFW said “We at KfW are acting on behalf of the German Government in this Fund-Investment. Main objective of the initiation of this Fund is to improve the environmental and social standards, especially the working standards upstream to the European supply chain. German and European citizens want to purchase products which are produced in fair working conditions and are adhering good environmental and social standards. The Funds investment procedure follows a proper environmental and social due diligence, which sets uplifted standards for its investees. In that way we believe INI farms will demonstrate as a beacon the positive outcome of ESG adherence with improved business opportunities with Europe.”

This is the first investment from Aavishkaar

Agrotech, Horticulture, Start ups, Supply Chain, Trade

The combined entity will foray into growing its export business with multiple crops and new regions

AgroStar has acquired Mumbai-based INI Farms, exporters of F&V crops like bananas and pomegranates from India. AgroStar has acquired 100 per cent of INI Farms through a combination of cash and stock. Through this acquisition, AgroStar will provide additional value to its large network of farmers by making their products available to quality-conscious consumers around the globe. This acquisition provides a scaled presence to AgroStar in the USD 300B+ agri output market.

Following this acquisition, AgroStar will provide market linkage solutions for the domestic and export markets to its large network of farmers. In addition, INI Farms’ customer base of global retailers will get access to a wider basket of F&V products. AgroStar will also provide access to great quality inputs, tech-based farm interventions and solutions designed to increase yields to INI Farms’ network of farmers across multiple states. Pankaj and Purnima along with the entire INI Farms team will continue to operate and scale the’ Kimaye’ brand across more countries and many more crops.

The combined entity will foray into growing