The Hindu BusinessLine: May, 2014
New Delhi: Food and beverage firm PepsiCo will source cashew fruit from farmers in Maharashtra for its Indian juice business, under a strategic partnership with the Clinton Foundation.
The partnership has been forged to stimulate social and economic development in emerging markets through a social enterprise model, the company said.
The Clinton Foundation’s Clinton Giustra Enterprise Partnership model, founded by former US President Bill Clinton and philanthropist Frank Giustra, seeks to apply modern agricultural techniques to improve cashew farming practices, boost yield, and increase income for local smallholder farmers, it added.
PepsiCo said the programme’s first Indian cashew harvest is underway. The fruit will be sourced from more than 2,000 smallholder farmers in 2014, with plans to scale up to as many as 15,000 farmers over the next five years.
“PepsiCo India plans to begin incorporating the fruit into some of its blended juice products starting in Spring 2015,” a company statement said. “This initiative embodies performance with purpose — PepsiCo’s recognition that our success is inextricably linked to society’s success,” said Indra K Nooyi, PepsiCo’s Chairman and CEO.
“Sustainable agriculture is critical to PepsiCo’s supply chain and we have a long history of working with local farmers around the world in ways that strengthen our business and the communities in which we operate. This partnership is a great example of aligning business and societal priorities, and we see great potential in continued collaboration with the Clinton Foundation,” Nooyi said.