EDITOR’S NOTE: Woyanne exports corn while Ethiopians are starving.
BANGALORE, INDIA: Floriculture company Karuturi Global, which is in the process of diversifying into agricultural crops, expects to begin sales of corn from its Ethiopian operations in the first quarter of 2009 with sales of around 78,000 tonne during the three-month period.
“We are in talks with various buyers, especially in South America and the Common Market for Eastern and Southern Africa. In both these markets, corn sees high human consumption. With global demand for corn being high, we are looking at increased sales for human consumption and production of animal feed. We expect gross sales of Rs 65-75 crore,” CMD Ramakrishna Karuturi said.
According to the London-based International Grain Council, the global production of corn in the 12 months to June 2009 is seen at 775 million tonne, a shortfall of 12 million tonne.
On the floriculture business, Mr Ramakrishna said Karuturi Global is seeing robust sales for Christmas and New Year, with shipments of 40-42 million rose stems.
“Contrary to popular perception that slowdown impacts sales, we find sales getting diverted towards flowers as they are relatively more affordable than other gift items such as apparel or perfumes,” he said. The company is hoping to ship some 12 million stems of red roses for Valentine’s Day in February and another 30-35 million of assorted colours.
Karuturi recently won orders for supply of flowers to two supermarket chains in Europe.