Avocados: New JV announced in India to grow trees

New JV announced to grow avocado trees in India

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New JV announced to grow avocado trees in India

Indian fresh fruit importer IG International has announced a joint venture initiative with independently-owned orchard and horticultural research centre Deccan Exotics to establish a plant nursery for avocados.

The nursery will be located near Hyderabad, in southern India's Telangana state, with an initial investment of US$1 million.

The joint venture company, IG Deccan, will in the first phase establish a plant nursery for growing avocados, where the vision will be to generate 5 million trees in the next five years, IG International said in a statement.

The joint venture company will handle all the new varieties from the international breeding companies and help with sublicensing for cultivators in India, it added.

ā€œGrowth is vital, and when to cascade to the next level is even more important in the D2C market. Our joint venture with a pioneering company like Deccan Exotics will help us create a blooming biome for avocado exclusively for our buyers in India, and it will also create an opportunity for India to be the next big avocado market for importers abroad,ā€ IG International Director of Finance and Operations Tarun Arora said.

In 2019 Fresh Fruit Portal reported that a separate project was underway to pioneer commercial avocado production in India, amid expectations that a sizeable industry could eventually develop.

India does not currently produce avocados on a commercial scale, but consumer appetite has been growing over recent years.

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