Karuturi Eyes East African Markets for Crops Grown in Ethiopia
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Karuturi Global Ltd., an Indian food processor, plans to exploit East Africa’s market potential by selling crops grown on land leased from Ethiopia’s government within the region, Chief Executive Officer Sai Ramakrishna Karuturi said.
The company, based in Bangalore, will produce commodities including palm oil, sugar and rice on 312,000 hectares of rented land. The intention is to sell the crops within the 19-member Common Market for Eastern and Southern Africa, Karuturi said in an interview on Nov. 10 in Addis Ababa, the capital.