ITC Agri-Business Boosts Farmers with Medicinal Crops Initiative

ITC's Agri Business Division is promoting medicinal and aromatic plant cultivation, such as Ashwagandha and Tulsi, in Madhya Pradesh as part of their strategy to tap into the health and wellness market. This initiative aims to increase farmer incomes and support ITC's FMCG and nutraceutical ambitions.

ITC's Agri Business Division is actively encouraging farmers to cultivate medicinal and aromatic plants to expand the conglomerate's footprint in the rapidly growing health and wellness segment. The division is prioritizing high-demand crops like Ashwagandha, Tulsi, and Kalonji, key to meeting the company's fast-moving consumer goods (FMCG) goals, particularly after the pandemic, which has seen heightened demand in the nutraceuticals market.

To this end, ITC has focused its efforts in Madhya Pradesh, where they've seen a 25 to 30 percent increase in farmer incomes through their Medicinal and Aromatic Plants Extracts (MAPE) initiative. This effort aligns with ITC's larger strategic focus on value-added agri products, as outlined by CEO S Ganesh Kumar, and includes setting up a 100-acre organic experimental farm aimed at farmer training and crop development.

Beyond benefiting farmer incomes, these high-value crops are crucial for supplying ingredients to ITC's Sunfest food products and personal care ranges. With cultivation now spanning over 4,000 acres, ITC has developed a dedicated cluster for organic medicinal and aromatic plants, studying 13 different species for sustainable agricultural practices and enhanced farm economics.

(With inputs from agencies.)