Indian-based company Future Value Retail intends to increase fresh produce sales through its Food Bazaar supermarket chain and the creation of a new store format supplying only fresh fruit and vegetables.
The Economic Times has reported that Future Fresh Foods president K Radhakrishnan told reporters that Future Value Retail, which operates the Food Bazaar chain of supermarkets, intends to increase its focus on retailing fresh produce.
“The company is enhancing focus on fresh fruit and vegetables as a category. We are thinking to open a new format of stores only for that,” he told the newspaper.
He did not go on to give details, however, about the number of stores the company planned to open, or give a timeline for any developments.
Currently the company retails fruit and vegetables from it Food Bazaar supermarket chain.
Trade in fresh produce at its supermarkets accounts for 3-4 per cent of the company’s total revenues, reported the Economic Times.
“With increased focus on this category we are hoping to take this figure to about 10 per cent in the next two years.”
Part of the company’s focus on fresh produce will involve strengthening the supply chain and sourcing more produce directly from farmers.
“We are targeting to source at least 80 per cent of fruits and vegetables directly from farmers as a part of the process,” he told the newspaper.
“We have started with Kolkata already, and by March of next year Food Bazaar outlets in about eight to 10 big cities will see a renewed focus on the category.”
Currently there are around 160 Food Bazaar outlets in India.
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