DFV fixes Rs. 60cr for expanding warehousing infra

Buoyed by the huge demand for its product from the European, the US and Mediterranean markets, country's largest exporter, Desai Fruits and Vegetables (DFV) has decided to invest Rs. 60cr on creating new warehousing facilities such as cold storage, packaging equipment including sorting space and machines, at Navasari on the outskirts of Gujarat. The company has also raised funds from the Pune based Deepak Fertilizers and petrochemicals by selling stake worth 49 percent in the firm.

Apart from firming up plans to upgrade and expand its existing warehousing facilities, it is also considering to rope in more than 2,500 farmers from in and around Navasari area for contract farming practices in its quest to push its production capacities from the current 60.000 tons to 3 lakh tons per annum of the premium banana and other variety of fruits. The company is also witnessing huge demand for its products from other countries in the offshore markets as they are showing positive signals for Indian fruit and other products thereby fetching huge premiums to the company thereby opening up big expansion opportunities for near future, said official sources.