India’s HyFun Foods has announced an expansion plan to transition from a potato processor with strong brand presence to a larger frozen-foods company. New products, including pizzas, kebabs, and processed vegetables, will be launched over the next few months, according to a report by FnBnws.com.
Currently, 70 percent of sales comes from exports of potato products to 40 countries to quick service restaurants like Burger Kings, KFC, Pizza Hut and Domino’s.
The company aims to expand its network to 10,000 farmers, and by end of FY29, the farmers’ network would expand to 30,000 farmers across Gujarat, Madhya Pradesh, Uttar Pradesh, Punjab and Himachal Pradesh for production of potato seed as well as sourcing raw material.
The company follows a ‘seed-to-shelf’ business model, starting with contract farming for seed multiplication of processing varieties of potatoes and procurement of crops through a buyback agreement at predetermined prices.
Source: FnBnews.com. Read the full story here
Image: Credit Matthias Böckel from Pixabay
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