HyFun Foods Launches HyFarm Initiative, Pledges Rs. 100 Crores Investment

HyFun Foods, an exporter of processed vegetables and fruits has unveiled its latest venture, HyFarm. The company launched agricultural produce procurement and farmer connect initiative at the HyFun Plant premises in Mehsana, Gujarat.

It also announced an initial investment of Rs. 100 crores towards HyFarm. Through this investment, the company wants to revolutionise produce procurement.  

Haresh Karamchandani, MD and CEO of HyFun Foods, expressed his enthusiasm for the HyFarm initiative, stating, "At HyFun Foods, we believe in the power of partnership and collaboration. Through HyFarm, we are not only investing in the future of farming but also in the prosperity of rural communities. Fresh produce is the cornerstone to the success of HyFun Foods, and through this initiative, we aim to strengthen our commitment to sourcing high-quality ingredients while empowering farmers and promoting sustainable agriculture." 

The company has set goal of bringing 30,000 farmers into its fold by 2030. While previously focused on just processing-grade potatoes, HyFarm now plans to expand its procurement to encompass table and chipping varieties, setting sights on a procurement target of 1 million tonnes by 2028.

Moving beyond potatoes, HyFarm is also gearing up to expand into procuring a diverse range of fresh fruits and vegetables, creating year-round opportunities for farmers beyond the conventional five-month potato season, the company added in a statement. 

Earlier this month at the Vibrant Gujarat Global Summit, HyFun Foods announced its plan to invest Rs 1,100 crore to set up three new state-of-the-art manufacturing plants in Gujarat to meet the growing demand for their products in the domestic and export markets. 

Since its inception in 2015, the company has crossed Rs 1000 crore in revenue in a short span of 7 years.