RIL, ITC to start agri-marketing

Bangalore: Reliance Industries and ITC are considering setting up big box agri-marketing complexes, to be positioned as terminal market complexes (TMC), according to sources.

The Jaipur-based National Institute of Agriculture Marketing recently floated the expression of interest (EoI) for the TMCs. Though India's annual output of horticulture produce is over 125m tonnes, a large portion of it is wasted due to lack of adequate processing and storage facilities.

Each TMC will handle fruits, vegetables, flowers, aromatics and herbs, besides poultry and meat, and may cost anywhere between Rs60 crore to Rs120 crore.