| Karuturi Global Ltd. (KARG), the world’s largest rose grower, said it will borrow more than $100 million from a sovereign wealth fund to invest in farming in East Africa after selling its first produce from a plantation in Ethiopia.
The company, based in Bangalore, India, produced 21,000 metric tons of corn in the last quarter of 2012 that sold for about $6.5 million in Ethiopia, Managing Director Sai Ramakrishna Karuturi said in a phone interview on March 27. The harvest, grown on its plantation in western Ethiopia, showed the project was “not a disaster” after floods destroyed a 60,000- ton corn crop in September 2011, he said...............................................Full Article: Source
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