ITC to boost growth by scaling up value-added agri products portfolio

Diversified conglomerate ITC Limited said that the strategic focus of its agriculture business continues to be on accelerating growth by scaling up its value-added agri-products portfolio.

In the annual report for 2024-25, the Kolkata-headquartered company said the scope and operations of its agri-business have grown manifold over the years and currently encompasses over 3.5 million tonnes of annual throughput in 22 states.

The company plans to straddle across multiple value chains comprising spices, coffee, frozen marine products and processed food.

Segment revenue of ITC's agri business increased 25 per cent year-on-year to Rs 19,753 crore in 2024-25.

The company consolidated its position as a preferred supply chain partner to buyers in spices like chilli, cumin, turmeric and coriander, according to the annual report.

The business continues to scale up its organic and integrated crop management programmes, expanding organic cultivation across multiple states to meet the growing demand, it said.

The company said the business strengthened its footprint across key international markets, particularly in Europe and the Middle East.

ITC continues to be one of the leading exporters of value-added frozen marine products, it said in the annual report.

During the year, international coffee prices surged primarily due to lower supply in global markets by major producing countries like Brazil and Vietnam.

However, Indian coffee exports witnessed robust growth, and the company leveraged its strategic sourcing in major coffee-growing regions of the country, it said.

In the shrimp segment, the industry faced a challenging environment marked by volatile farm gate prices and supply chain headwinds.

The company expanded its reach through market development in countries like Greece, Israel and Malaysia, it said.