Financial Daily from THE HINDU group of publications Tuesday, Mar 09, 2004 |
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Agri-Biz & Commodities
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Events Symposium on vanilla farming in Hyderabad Our Bureau
Hyderabad , March 8 INDO Bionomics, a city-based biotech company, is organising a day-long symposium on March 28 to promote vanilla cultivation in Andhra Pradesh. Speaking to newspersons, Mr Veera Reddy, Director, said that the production of natural vanilla meets just about four per cent of the global demand. Discounting the argument that Andhra Pradesh was not suited for vanilla cultivation, he said that studies had found that a large number of districts were well suited. Admitting that only eight acres were under vanilla cultivation in the State, he said that Vizianagaram, Visakhapatnam, and East and West Godavari districts were ideal places for vanilla cultivation. According to him, global trade in natural vanilla stood at Rs 300 crore. While the total area under vanilla cultivation was 40,800 hectares, the production of cured vanilla was put at 5,580 tonnes. "Even if five per cent of the demand for synthetic vanillin is substituted by natural vanilla beans, there will be a huge additional demand of 70,000 tonnes. The demand is growing at 4-5 per cent." To set an example, the company is taking up vanilla cultivation on 100 acres near Hindupur in Anantapur district. "We will be spending Rs 10-13 lakh on each acre. Yields are as high as Rs 10 lakh to Rs 1 crore per acre." However, he added that investments were on the higher side. "Each acre of vanilla cultivation may attract investments in the range of Rs 16,000 to Rs 2 lakh. The beauty of the farming is that it doesn't need anything from the soil. It generates the food from the air."
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