News

NEW DELHI, SEPT. 7: FRESH and Health Enterprise Ltd (FHEL), a wholly owned subsidiary of the container Corporation of India (CONCOR), is planning to procure about 9,000 tonnes of apples in 2010-11.

It has procured only 1,000 tonnes of apples so far this fiscal.

In 2009-10, FHEL had whittled down its apple procurement by 66 per cent from the targeted 8,500 tonnes because of crop failure.

FHEL has a 12,000 tonne controlled atmosphere storage facility at Rai near Delhi, It supplies apples to organised retailers in several metros.

‘Last year, the domestic apple prices were fairly high and it did not make financial sense for us to procure at such price levels to sell in the market in the off-season while competition from imported apples.

“We get an idea about the price of apples in the market during ensuing off season based on the apple prices prevailing in international market,’ Mr N.K. Jawa, chief Executive officer, FHEL, explained.

The company is also considering diversifying into procurement of other fruits such as grapes and oranges.

FHEL had registered a loss of Rs 9 crore last year, of which depreciation comprised about Rs 3.6 crore and interest cost Rs 3.8 crore.