Cold storages: Nearly 50-fold rise in projects approved by govt incentives

Nearly 50-fold rise last year in projects approved, pushed partly by govt incentives; over 30% annual growth estimated for segment in coming years

Investment in cold storages have seen a sharp increase over recent years, partly due to the government’s increased focus on conservation of agricultural produce for better shelf life and a higher return for farmers, by selling their produce in the lean supply season.

Data compiled by the Union ministry of food processing showed the government approved 93 projects worth around Rs 28.3 billion in calendar year 2017, compared to three projects with an investment commitment of nearly Rs0.6 billion the previous year.

In January-February this year, 14 projects worth Rs3.3 billion have been approved. The sharp increase, in number of projects and