Kaveri Seeds, long associated with cottonseed business, is now turning towards non-cotton opportunities. They are now focusing on seeds of vegetables, maize, and rice that provide high margin. The move came in the wake of the decreasing margin in cotton seed business.
Executive Director of Kaveri Seeds, C Mithun Chand, said that export potential exists for rice, maize, and vegetables seeds in countries like Bangladesh, Thailand, Vietnam, Indonesia, Nepal, and a few nations of Africa. He added that the company is seeking opportunities in these countries too.
The Hyderabad-based seed stalwart is all set to grab newer opportunities in the rice seeds business, which has seen a growth of 8-10%. Business of hybrid rice seed, which saw a bleak future in India so far, has now kickstarted. The company is looking to break up their business between cottonseed and non-cottonseed in the ratio of 40:60 in the next fiscal year.
