Karuturi Global has been deriving 95 per cent of its revenues from rose exports and has been doing this business at a healthy profitable rate. While each stem is sold for 11-12 Euro cent, its cost of produce is around 7 Euro cent, a margin of around 70 on each stem of rose. Thecompany has around 550 acres under cultivation for roses which is being expanded by adding another 150 acres in the near future.
Karuturi Global is in advanced discussions with a global food-processing major to set up a 1 million tonne unit for contract farming of tomatoes.
According to industry sources, the deal is expected to be announced this quarter and will involve value addition on top of farming. Sources indicate that Karuturi may be looking at Kolar to set up the unit.
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