Goodricke group to diversify into crop culture
Kolkata, Apr 08 (UNI) The Goodricke Group Ltd is planning to diversify into crop culture.
The company, presently having expertise in tea, is looking for land, its chairman P A Leggatt told reporters in the sidelines of the company's AGM.
The company is looking at expertise in pineapple, edible nut and rubber.
Leggatt said the company is open to acquisitions if it gets a right garden at the right price.
"We are not satisfied with the packet tea business showing a declining trend," he said.
The company reported 19 per cent volume growth and registered a market share of five per cent last year.
Goodricke, exporting instant teas to Japan, is looking at markets in Philipines and Taiwan, he said.
Goodricke produced 17.71 million kgs of tea in 2005 and exported 1.09 million kgs of tea as compared to 1.52 million kgs in the previous year.
Lower exports to Middle East resulted in lower exports last year, he added.
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