FU has invested in Suminter, an Indian company that helps small farmers in India, Uganda and the Philippines convert to certified organic farming.Suminter has raised 53 million USD in funding from Morgan Stanley India Infrastructure and IFU. The investment contributes to Suminter being able to further expand its activities. The financing also ensures a partial exit for the existing investors Nexus and Capricorn Investment Group.India is one of the world’s largest producers of organic agricultural products and production is growing rapidly due to favorable climatic conditions, high yields of organic products and supportive regulatory framework. Global brands have consistently increased the use of organic products to meet their sustainability goals. With the Indian government’s focus on sustainable agriculture, companies like Suminter will play a vital role in increasing organic farming practices in India.
Suminter is already an integral part of the organic value chain and services more than 250 food brands in over 20 countries in North and South America and Europe, including several of the world’s largest. The company supplies, processes and exports organic and GMO-free products such as soybeans, cotton, coconut, spices, oilseeds and sugar. The producers are small farmers whom Suminter helps convert to certified organic cultivation. Currently, Suminter has a smallholder base of around 90,000 and over 175,000 hectares cultivated organically, primarily in India, the Philippines and Uganda. The capital increase will support Suminter’s ambition to double the number of producers and hectares in the coming years.