Sunday, March 22, 2015

I.G. International aims at banana exports worth Rs.60 crore in a couple of years India reports over 45% rise in banana exports in 2013-14

Mumbai, 19th March, 2015:  In a serious bid to claim a significant slice of revenue from banana exports, I G International Pvt Limited (IGIPL), one of the leading names in fresh fruits imports and exports in the country, is now looking at further banana export opportunities in Iraq, Iran and Saudi Arabia. The Delhi based company having significant presence in few other states too is now aiming at banana exports worth Rs. 60 crore in the next couple of years.

Last week only, the first consignment of superior quality of bananas was shipped by IGIPL to the Middle East. The company while has set up banana ripening facilities in Delhi, Mumbai and Jaipur, recently launched a new brand. IGIPL will now be selling quality bananas in the domestic and overseas markets under the brand name, Rich Banana. “The Rich Banana campaign has been launched keeping in mind both domestic and export markets. We are using ethylene absorbers and MAP bags to ensure quality of the banana maintained utmost at arrival,” said Mr. Tarun Arora, Director. IGIPL aims at banana farming of its own 10,000 acres in next three years while addressing the supply chain bottlenecks by using its own supply chain trucks. “The entire supply chain is under cold conditions which ensure that the quality is perfect at arrival,” said Mr. Tarun Arora. Though India remains the largest producer of bananas globally, due to supply chain issues and lack of post harvest management facilities, it exports only 0.3 per cent of its total banana produce while Ecuador and Philippines continue to be the two top banana exporting countries in the world. Using its expertise in post harvest handling and cold chain infrastructure, IGIPL is now aiming at bigger global opportunities when it comes to banana exports.  The company is also focusing to increase its market share in bananas in India. “Currently we are in three cities and three export countries. So in next phase, we are working closely with farmers to further improve on quality and to grow volumes,” added the IGIPL Director.

Interestingly, India which has been the largest producer of fresh bananas in the world but so far remained a small player when it comes to banana exports, reported a steady jump in the export of the crop in 2013-2014. According to export numbers released by APEDA, in 2013-14, the country exported 65,844 MT of bananas against 45,573.23 MT of exports of the fruit in the previous financial year. Banana is the fifth largest agricultural commodity in world trade after cereals, sugar, coffee and cocoa.

About IG International:
Incorporated in 2000 by Gian Chand Arora, IG International Pvt. Ltd. (IGI) is a leading marketer and distributor of high quality fresh fruit across India and its brand ‘IG’ is a trusted symbol.  The company handles an annual volume of over 1500 refrigerated containers (40 feet) from 20 countries and distributes these through its 27 wholesale outlets across India. 

IG Supply Chain Pvt. Ltd. is its wholly owned subsidiary and is among the top 5 players  in temperature controlled warehousing with a capacity of 25,000 pallets and facilities in Mumbai, Chennai, Bangalore, Jaipur and Amravati.  It has a fleet of 50 refrigerated trucks.

In FY 2014, IG International imported 30,000 MT of fresh fruits comprising of apples, cherries, kiwis, oranges, plums, pears, sweet tamarind, etc.

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