Multi-products giant conglomerate ITC Ltd announced its foray into another segment through its FMCG division. Farmland, the brand through which the firm will market fresh fruits and vegetables has been initially introduced in New Delhi. Four variants of potatoes have been launched under the brand. However, the brand will begin branch out into other fruits and vegetables from the next quarter.
ITC will later introduce this brand in other metro locations. The four introductory products are naturally low sugar potatoes, potatoes with natural antioxidants, baby potatoes for special dishes and French fry potatoes. Branded apples are the next product likely to be launched under Farmland. Group head – agri business and IT at ITC, S Sivakumar said “We are introducing potatoes in Delhi. It will be available in seven metros in the next 12 months,” adding that Farmland potatoes will be available in about 1,000 stores in Delhi over the next 2-3 months. The company will not rely only on large organised retailers and e-commerce but also focus on distributing Farmland products through neighborhood stores.
“The total market for table potatoes in India in terms of consumer spend is valued at Rs 70,000 crore with consumption in metros and mini-metros alone close to Rs 5,000 crore, which is what ITC’s Farmland potatoes range will address in the first phase.” Farmland products will be sold at 10-15 per cent premium over local prices.
The company said in a statement, ITC plans to work with the Indian Council for Agricultural Research – Central Potato Research Institute to build the momentum of nutritional benefits of potatoes and dispel some of myths around it. It claims that the value-added potatoes that they are launching are naturally low in fat and sugar with fat content below 0.2 per cent and sugar level below 2 per cent respectively