Pomegranate is slowly gaining popularity worldwide – thanks to the increasing awareness about its health benefits. Alongside, the Government of India is doing its best to promote the fruit internationally and has been encouraging farmers to produce more. Result: Exports from India have been growing steadily. The Dollar Business analyses the pros and cons of the business of exporting pomegranates.
My mother used to push me to have pomegranates for breakfast with the notion that the red fruit was good for the heart. The cynic in me had always put it down to another of her old wives’ tale. Seems she was not altogether wrong and I owe her an apology! Doctors, of late, are encouraging their patients to eat fresh pomegranates. Here is why – Pomegranates have been found to contain high levels of anti-oxidants, Vitamins A, C & K, folic acid and potassium and eating pomegranate seeds or drinking pomegranate juice can lower the risk of stomach disorders, heart problems, diabetes, cancer and a host of other diseases. Naturally, the world over, pomegranate is fast becoming a popular ingredient in every day diet.
The numbers also corroborate the fact that the demand for pomegranates is on the rise. According to a report by Prospectiva 2020, the global demand for pomegranate has been steadily growing over the last few years with its prices rising at a CAGR of 33% since CY2012. And this has created a great business opportunity for Indian growers and exporters, as pomegranates are native to India with the country being the world’s largest producer of the fruit.
IT’S ALL ABOUT HEALTH
In fact, India’s exports of fresh pomegranates has also been growing at a rapid clip. In FY2017 India exported pomegranates worth $73.16 million, up 140% from the $30.45 million worth it had exported in FY2012. Revealing the reasons how pomegranate exports has become a profitable business opportunity, Nagesh Shetty, Owner of Mumbai-based Deccan Edibles Pvt. Ltd. an exporter of the fruit, says that an increase in awareness about health benefits of the fruit has been driving its demand across the world.
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