In a recent 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.
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.
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."
Shardul Sheth, Co-founder and CEO, AgroStar said: "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."
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."
Dr. Sudhashu, Secretary, APEDA, Ministry of Commerce and Industries, “I would like to congratulate Lulu Group and InI Farms for signing this milestone MoU for bananas. 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.”
For more information:
Chaitanya Bodhe
AgroStar
Tel: +91 8007673908
Email: [email protected]